Secret superyacht trips and fake documents: how H2O tried to cover up a scandal

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The story "Secret superyacht trips and fake documents: how H2O tried to cover up a scandal" was covered 12 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 12h ago

Secret superyacht trips and fake documents: how H2O tried to cover up a scandal - Financial Times

Quick Summary:

A Financial Times investigation reveals that H2O has invested heavily in hard-to-sell bonds linked to the controversial German financier Lars Windhorst.

That same day, according to correspondence seen by the FT, Windhorst emailed Crastes to let him know he had purchased 32 bottles of 1982 vintage Château Latour wine, which the H2O chief replied they needed “to celebrate La Perla Monaco”.

While H2O said last week that it has since overhauled its “risk management and compliance teams, governance and internal procedures”, the FCA’s findings, along with further internal correspondence and other documents seen by the FT, paint a stark picture of the lengths H2O went to conceal its risky dealings from both the authorities and its investors.