On Monday (May 9) the International Consortium of Investigative Journalists published a database of almost 214,000 offshore entities created in tax and secrecy havens by a Panama law firm, Mossack Fonseca. The data were leaked to investigative journalists who worked for a year before releasing names. The consortium stresses that the entities may have been created legally — a point that President Obama made in discussing the release.
I found nine entities with the name "Manchester" in them. One is particularly interesting: Manchester Financial Group Ltd.
San Diego real estate developer and former owner of the Union-Tribune Douglas Manchester's major company is named Manchester Financial Group. The lady who answered the phone there, whom I have dealt with before, is quite knowledgeable, although I don't know her name. I asked to speak to Richard Gibbons, the financial guru working for Manchester. I described the consortium's data release. I mentioned Manchester Financial Group Ltd., and said I did not believe that Douglas Manchester's company had an "Ltd." at the end. She said that the Manchester operation had a number of companies, but she didn't address the use of the term "Ltd."
She excused herself to consult with somebody else. She came back and said, "We have no affiliation with anybody in Panama." Politely, I said that statement doesn't quite address the information I was seeking. She repeated the sentence and hung up.
Here are the entities unearthed by the consortium that have the name Manchester in them: 1) Manchester Financial Group Ltd.; 2) Manchester Inc.; 3) Manchester Realty Corp.; 4) London & Manchester Trading Limited; 5) Manchester State Company Limited; 6) Manchester International Resources Corp.; 7) Manchester Overseas Trading Corp.; 8) Manchester Holdings PTY Ltd.; 9) Manchester ImpEx Inc.
Manchester Financial Group Ltd. was incorporated in 1996 in the British Virgin Islands tax haven with a link to the granddaddy of all tax havens, Switzerland. It defaulted and became inactive in 2001.