Last week AIT published “Exposed: The Truth Behind Silverpoint Part 1” giving you the background to the start of the Trotta Empire and introducing some of the main characters. Today we continue the story of an intricate web of companies the swift movement of funds and once again a Hollywood-style family feud over the inheritance of the Trotta millions.
Kwang Sim was a master in subterfuge, he had set up such a complex network of companies and money trafficking routes a very detailed road map would be required to even get close to following it. Kwang himself continued with his own life happily giving his sermons to his Mormon congregation and ensuring his children went on the mandatory missions, all while carefully and deliberately planning to avoid Taxes at all costs.
With great care, he set up a structure using local law firms and employing local managers who had no actual control of the finances or of any financial activity, (some were extremely complicit in the fraud). For Kwang, this would mean extensive travelling with monthly visits to Spain and then Asia where he was running the finance departments with an iron fist. He was, in essence, Bob Trotta’s“financial enforcer” making sure the funds were moved around the group of companies and ultimately ending up near a palm tree very close to a white sandy beach.
The Trust which is “owned” by a bank with Bob Trotta being the beneficiary used the bank which as recent strong evidence has shown, actively and willingly participated in assisting Kwang and Trotta in this complex web of lies and tax avoidance. It was Kwang who was the mastermind, but they were all complicit and knew exactly what was going on. All was running very smoothly until Bob’s death and the will would be read to the children and his wife Ragni.
Once again just like a scene from a Hollywood movie, the children, Jennifer Trotta Campbell, Erin Trotta Westfall gathered along with Douglas Campbell and Ragni Trotta at the plush Mayfair offices of Bob’s Lawyers. They were now going to hear about the 300 million they were about to inherit.
Listening to the legal advisors, they, the Trust and the executors learned that Bob and Kwang had mismanaged the company funds and taking some very risky decisions prior to his death. This now puts the group of companies in a very precarious position.
It also transpires at this meeting that Ragni learned she had been written out of the will, receiving only 10% of the estate! She was obviously furious. Although no one knows the details of the marriage from the outside it all seemed very rosy.
It has been rumoured by insiders that the marriage was in trouble, with a persistent rumour had for years been having a secret affair with her hunky Jamaican personal trainer. Just like something out of the hit TV show “Housewives of New York”, Ragni seems to have enjoyed a life of privilege with her wealthy older husband, while also enjoying some of the side benefits with her younger hunk. Sources have told us that Bob found out but did not want to be embarrassed publicly and would wait until he died to get his revenge. This has obviously caused huge rifts between her and the children.
The unequal division of the spoils created a massive rift between the family and the trusted sidekick Kwang who was tasked with trying to keep the family together. Just like another TV show “The Sopranos”, the family looked to deputy Kwang, to steady the ship, he then set about trying to organise the complex web which he had established.
This was not an easy task, even for Kwang, when you consider he had set up around 200 offshore companies in Panama and the British Virgin Islands. Panama and the BVI are considered fiscal paradises in Spain and the recent “Panama Papers” have only added to the challenges of keeping this structure going. To achieve the company’s goal of low taxes the local directors were not allowed any control of the bank accounts with only the London team of Kwang Sim and his later sidekicks of Ketan Patel and Colm Hayden being permitted to move any money.
It would appear that total control of the finances was very much in the hands of Kwang and his team, in the next episode we introduce the “liquidators” brought in by the Trust and the Family. The motive, save as much for the family as possible. Also revealed is the full list of companies filed with the United States Bankruptcy Court Southern District Of New York by the liquidators, in which the Trotta Family have vested interests. An eye-opener indeed.
We hope you have all had a good weekend, Baby Dog “ZEUS” had a trip into the mountains and his true identity started to be revealed.