Tag Archives: godfrey bloom

Controversial MEP Godfrey Bloom has altered his declaration of financial interests after Scrapbook exposed a company he had tried to hide from EU officials. The UKIP representative, who is also standing for police commissioner in Humberside, sat on one of Europe’s top finance committees while failing to reveal his shareholding in a financial advice firm.

After leaving his declaration of interests form completely blank, Bloom told this blog:

“I resigned all directorships on election to the European Parliament in 2004 and unwound all my business interests.”

But the MEP has found himself backtracking after we published documents which proved he owned a majority shareholding in TBO Investments, which was fined £28,000 by regulators for exposing its customers to “unacceptable risk”.

In an attempt to avoid an investigation by EU authorities, Bloom has now scrawled an update at the bottom of his form:

Despite sitting on the influential Committee on Economic and Monetary Affairs while owning a financial advice company, Bloom denies any conflict of interest:

“There is no possible conflict of interest and nor there [sic] is no interest nor has there been since 2009.”

He also claims he “sold any controlling interests in all companies” – at the same time, admits he is a shareholder in the secret firm:

“I am a registered shareholder in TBO Group of Companies which is in the process of being wound up and has been since 2009 under the direction and in compliance with all the appropriate authorities.”

Bloom has attempted to rectify his glaring omission just days before he faces the police ballot in Humberside.

A firm of financial advisers which a British MEP tried to hide from European Parliament officials was fined by regulators for posing an “unacceptable risk” to customers, Political Scrapbook can reveal. TBO Investments is owned by UKIP’s Godfrey Bloom, who has sat on one of Europe’s top finance committees without declaring the potential conflict of interest.

A 2008 report by the Financial Services Authority condemned the company for failing to keep records and to “adequately supervise and monitor staff”. The ruling saw the firm slapped with a £28,000 penalty:

“The Financial Services Authority (FSA) has fined TBO Investments Limited (TBO) £28,000 for failing to clearly document the explanation of the risks of transactions to clients. It also failed to make and retain records that demonstrate the suitability of its advice and ensure that its business is conducted in accordance with FSA requirements.”

During much of the period 2001-2007 criticised by the FSA, Godfrey Bloom acted as a director and senior manager of the company.

A UKIP MEP is sitting on the European Parliament’s top finance committee without declaring a potentially conflicting interest in a secret company, Political Scrapbook can reveal. UKIP’s Godfrey Bloom, a member the influential Committee on Economic and Monetary Affairs (ECON), has withheld details of his investments advisory firm from EU officials.

European Parliament regulations state that:

“any financial interest that may cause a conflict of interests will … have to be disclosed”.

But Bloom’s ECON responsibilities could have a direct impact on his secret business: TBO Investments, of which Bloom is the majority shareholder, offers advice on “tax planning” whilst ECON describes its responsibilities as including, errrr, “taxation and competition policies”.

Perpetually thirsty Bloom, who Scrapbook previously exposed for addressing the parliament having consumed an apparently incapacitating cocktail of drink and drugs, served as director and senior manager of TBO until 2004, but has since remained the majority shareholder in the company.

The murky revelations won’t help his bid to become Humberside’s first ever police and crime commissioner.

Godfrey Bloom, MEP for the Yorkshire and North Lincolnshire region, has tweeted a video of himself captioned “Here I am in Grimsby”. Except he’s not, he’s in Brussels, standing slap bang in the middle of European Parliament.

Bloom, who previously confessed to Scrapbook that he had addressed European Parliament after consuming a cocktail of drink and drugs, is seen in the video denouncing travelers:

“They’re supposed to be travelers but they don’t travel. So they have to set up camp and be a bit of a nuisance to everybody around them”

During the 78 second speech Bloom says “I don’t know” three times, and “not sure” once. It seems that he’s gone on camera not knowing what he’s saying or where he is.

“I don’t have much to do with travelers” he admits; this coming from a man who spent over £11,000 on travel in under 6 months.