, 7 tweets, 4 min read Read on Twitter
Erik Prince's business partner Stuart Herd got zapped for tax evasion in Kenya on an unrelated business venture. 21 counts of tax evasion and possession of counterfeit excise duty stamps. That's going to leave a mark. nation.co.ke/news/Humphrey-…
Erik Prince used Alan Herd's (Father of Stuart Herd) dirt strip Kijipwa Airstrip to start his multi million grub stake in Frontier Services Group...and then bought it. Prince was going to use Greystone as his investment in FSG...but he had...ah..sold it.
Herd is big in Kenya and South Sudan about.me/stuartherd and Erik needed his contacts to open doors and cut deals. It is not the first time Herd has bumped up against the Kenyan government but like all things in Africa, most problems can be solved. kenyalaw.org/caselaw/cases/…
Let's hope this misunderstanding, like the time the Kenyan government revoked their flight license, goes away.ch-aviation.com/portal/news/32…
The good news is that Erik was paid $3.5 million for his "contribution" of Kijipwa and only paid poor old Alan Herd $350,000 on November 20, 2013. Erik became chairman of FSG on January 2014 and had options for 17% of the FSG stock. Dorian Barak became a board member.
Kenyans have a nose for #fuckery and Yusuf Haji asked some excellent questions in parliament about a backdated sale and some odd characters. Govt notified March 18, 2014 regarding backdated activities to November 19, 2013. info.mzalendo.com/hansard/sittin…
51% of the shareholding of Kijipwa Aviation Company was supposedly held by a senior citizen and 49% of the shares are held by a foreign company incorporated in Bermuda." The Aviation license was suspended on October 24 2014 #DontMentionTheChinese. nation.co.ke/business/Kenya…
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