Brother’s investment saved Hand-in-Hand Trust from Clico fate – Brassington
NICIL Head Winston Brassington says a controversial share purchase by his brother saved Hand-in-Hand Trust from the fate of the collapsed Clico, however observers say the key question that HiH Trust and Brassington have to answer is how come his brother was the only investor who came to the rescue of the entity and whether this was a result of his receipt of privileged information.
Some observers are of the view that the actions of Winston Brassington in relation to the transaction are at the very least unethical even if not constituting a breach of any laws.
About whether his brother Jonathan Brassington benefited from insider information before investing in HIH Trust, Brassington responded that he did nothing illegal or unethical in this regard. He said that NICIL had ceased to be represented on HiH’s board from …..To continue reading, login or subscribe now.