§ 65. Mr. HardyTo ask the Chancellor of the Duchy of Lancaster what proportion of their investments has now been recovered by investors in the McDonald Wheeler and Barlow Clowes funds; and how many criminal charges have now been preferred in respect of those involved in these businesses.
§ Mr. MaudeI understand that investors in McDonald Wheeler have received 36p in the pound in distributions made to date. Investors in Barlow Clowes Gilt Managers Ltd., whose accounts were with Lloyds Bank trustee account have received 75p in the pound and other investors in Barlow Clowes Gilt Managers Ltd. have received 25p in the pound to date.
Mr. John David William Wheeler has been charged on three charges of fraudulent trading, 11 of theft, two of using a false instrument, one of publishing a false statement and one of false accounting. These charges are the subject of extradition proceedings in the Republic of Ireland. Mr. John Arthur Woodall has been charged on three charges of fraudulent trading, one of theft, one of false accounting and one of publishing a false statement. Mr. Peter Clowes and others have been charged on two charges of conspiracy to steal, 13 of theft, one of false accounting and one of perverting the course of justice.