Balli Group Plc

From Wikispooks
Revision as of 18:03, 11 July 2019 by Robin (talk | contribs) (logo)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to navigation Jump to search

Group.png Balli Group Plc Companies House Company Check Endole WebsiteRdf-icon.png
Balli.gif
Formation26 July 1991
Founder• Vahid Alaghband
• Nasser Alaghband
• Hassan Alaghband
• Donald Richard Chilvers
HeadquartersMayfair, London, UK
SubgroupsBalli Aviation
A privately held company with a subsidiary, Balli Aviation that in 2010 pleaded guilty to charges of illegally exporting Boeing aircraft to Iran, in breach of sanctions.

The Balli Group Plc is a privately owned[1] Mayfair based company which has traded with Iran. Its subsidiary, Balli Aviation "pleaded guilty... in the U.S. District Court for the District of Columbia to a two-count criminal information in connection with its illegal export of commercial Boeing 747 aircraft from the United States to Iran".[2] In 2013 the group appointed administrators amid large debts.[3]

Staff

The first secretary was Clive George Doxey May.[4] A non-executive director of the group was UK deep politician Lord Norman Lamont, former Chancellor of the Exchequer, former Chair of Le Cercle, from 25 September 1995 to 19 October 2012.[4]

Iranian aircraft deal

"In February 2008, the US State Department contacted its London Embassy requesting “immediate action” over three Jumbo Jets it believed were bound for Iranian-owned Mahan Air, which is banned from operating within the EC. The Boeing 747-400 aircraft, owned by Balli Aviation, a US subsidiary of the Balli Group, were undergoing maintenance in South Korea, but the US had “strong reason to believe” they were bound for Mahan Air."[1] In 2010 the US DOJ announced that "Balli Group PLC and Balli Aviation Ltd. have agreed to pay a civil penalty of $15 million of which $2 million will be suspended if there are no further export control violations."[2]

2013 bankruptcy administration

Balli Group plc and two of its affiliates entered administration on 20 March 2013, with Deloitte LLP appointed as administrators.[5] The group had debts of more than £834 million.[6]

Exposure

The US embassy cables came to light through Wikileaks.[7]

SFO Investigation

The Serious Fraud Office announced on 3 May 2017 that they were investigating Balli Group Plc, Balli Steel and Balli Trading Ltd.[8] In Augist 2017 the SFO arrested 7 people "made alongside searches on five premises in London and the southeast".[9]


References