The wife of the chancellor, Rishi Sunak, is a shareholder in a restaurants business that funnelled investments through a letterbox company in the tax haven of Mauritius, in a structure that could allow its backers to avoid taxes in India. The business, International Market Management (IMM), is hoping to build a chain of dozens of restaurants across India, via franchise agreements with the celebrity chef Jamie Oliver and the American fast food brand Wendy’s. The involvement of Sunak’s wife, Akshata Murty, has emerged from an investigation by the Guardian into a range of financial assets held by Sunak and his close family, many of which have not been declared in the official register of ministers’ interests. Murty invested in IMM, which was set up in 2014, alongside some of the best-known names in UK hedge fund circles. Before entering parliament, Sunak worked in hedge funds, eventually co-founding the US arm of the Cayman Islands registered Thélème Partners. IMM is chaired by David Stewart, who was previously chief executive of the fund headed by Crispin Odey, a leading backer of a no-deal Brexit. Stewart raised financing for the venture from a group of wealthy friends and acquaintances, with Odey Asset Management… Read full this story
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