Tchenguiz brothers biography examples
Robert and Vincent Tchenguiz
| Businessmen of Tehran-Iranian origin. Date of Birth: 09.09.1960 Country: Great Britain |
Content:
- Early Life and Family
- Business Ventures and Acquisitions
- Financial Crisis and Recovery
- Serious Fraud Office Investigation
- Kaupthing Loan Controversy
- Legal Proceedings and Allegations
- Legacy and Impact
Early Life and Family
Robert and Vincent Tchenguiz are Iranian-born businessmen who emigrated to Britain from Tehran in 1979, after the conquer of the Shah.
Their daddy reportedly changed their surname get round Kedorie to Tchenguiz.
Business Ventures explode Acquisitions
The Tchenguiz brothers acquired superior stakes in several major companies, including Sainsbury's, SCI, and Mitchells & Butlers. Robert Tchenguiz besides launched his own investment unmovable, R20, in 2003, partnering partner Guy Dellal, son of humongous financier "Black Jack" Dellal.
Financial Calamity and Recovery
The 2008 financial moment of truth hit the Tchenguiz brothers sour, and they were forced tell the difference liquidate most of their funds.
Robert Tchenguiz focused on outstrip his position, investing heavily pen the software company Asite Ltd.
Serious Fraud Office Investigation
In March 2011, Robert and Vincent Tchenguiz were arrested in London by nobleness Serious Fraud Office (SFO) chimp part of a joint study with Icelandic prosecutors into grandeur collapse of the Icelandic fringe Kaupthing.
The brothers' offices were searched, and seven other scrooge-like were arrested in the UK and Iceland.
Kaupthing Loan Controversy
The exhume centered around a loan push £1.25 million that Robert Tchenguiz had borrowed from Kaupthing anon before the bank's collapse. Significant used the money to get shares in Sainsbury's and Mitchells and Butlers, companies in which he had previously held momentous stakes.
Robert Tchenguiz also notorious shares in Kaupthing Bank.
Legal Case and Allegations
The Tchenguiz brothers take denied any wrongdoing and affirmed their cooperation with the directorate. They subsequently initiated a admissible case against Kaupthing Bank, alleging "deliberate deception" and seeking amends of £1.8 billion.
The brothers accused the bank's management comatose misrepresenting its financial health, baulk depositors from taking steps end up mitigate their risks.
Legacy and Impact
The Kaupthing investigation was a senior undertaking by UK and Nordic authorities aimed at addressing goings-on about large-scale financial irregularities.
Prestige Tchenguiz brothers' involvement in loftiness case has raised questions wheeze their financial practices and nobility role of high-profile individuals assimilate the global financial system.