Guardian report links island to failed coup

GUERNSEY has been linked with a failed attempt to overthrow the president of Equatorial Guinea. The planned coup led to the arrest of Sir Mark Thatcher, son of former Prime Minister Margaret, in South Africa on Wednesday for alleged involvement.

The plot leader, former SAS officer Simon Mann, reportedly set up the coup by selling shares in two companies based in Guernsey to fund money, men, logistics and a plane, according to the Guardian newspaper.

Mr Mann sold some of his shares in Logo Ltd and Systems Design Ltd and put in $400,000 to cover the cost of a specially converted Boeing 727 for use in the plot, said the newspaper.

But a check at the Greffe yesterday revealed that neither company was registered locally.

As part of his job, Guernsey Promotional Agency chief executive Talmai Morgan has to counter adverse publicity in the national press for the island's finance

industry.

He said that any reference to Guernsey in articles, including

yesterday's coverage, could prove harmful.

'It's a continual battle to make sure that people know the facts related to what Guernsey is and the business we deal with,' said Mr Morgan.

'We don't actually accept those purely spurious images that people want to sell to the rest of the world about us.

'I cannot see any problem in Guernsey providing services to a well-known international businessman who has not been convicted of any crime. Guernsey has very high standards of due diligence before it permits the incorporation of a Guernsey company, but this doesn't mean that we should refuse to be associated with anyone who happens to be famous.

'That would be a crazy position and would exclude Guernsey from large amounts of entirely legitimate business.'