Talk:Michael Ashcroft/Archive 1

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 * Sir Michael Anthony Ashcroft, Baron Ashcroft, KCMG, is a Conservative politician in the United Kingdom.

Ashcroft holds both British and Belize nationality. He is a Florida-based billionnaire company director, Britain's fourteenth richest man. He became a millionaire by the age of 31 after a cleaning firm he bought with a £15,000 loan was sold five years later for £1.3 million. He continued to make many acquisitions, principally through Carlisle Holdings, which later merged with Belize Holdings Incorporated (BHI). His business ventures have a combined workforce of 47,000. He owned the fourth largest bank in Belize and a 26 percent share in Belize Telecommunications.

He has donated several million pounds to the Conservatives, acting as their treasurer until 2001. His donations, around £1 million a year, have amounted to some 10% of the Party's income over much of that period. In 1999, The Times published leaked Foreign Office memos, showing concern at Ashcroft's business dealings and practices. It also alleged that he had asked the previous Conservative government to quash recommendations to crack down on money laundering. Connections were made between Ashcroft's banking and shipping empire, and money laundering and cocaine trafficking, although these were largely circumstantial. There were additional allegations of influence over privatisation policies in the 1980s and 1990s. This caused some controversy due to his financial links to the Conservative Party. Nevertheless, in 2000, Ashcroft was made a life peer as Baron Ashcroft, of Chichester in the county of West Sussex and awarded the KCMG.

Ashcroft also made large donations to the People's United Party of Belize (PUP), estimated in the area of $1 million, while they were the opposition party. After coming to power, they introduced legislation which was beneficial to his business, including legislation offering tax exemption to some companies, including BHI. His Bank of Belize was also granted the exclusive right to set up off-shore companies in the country for UK and US citizens and Ashcroft was appointed Belize ambassador to the United Nations.

Ashcroft initiated a libel case against the Times over its allegations of a US Government investigation into his company, later settled without a hearing.

--mervyn 15:04, 2 Jun 2005 (UTC)