Saturday, April 13, 2024

Thurrock Council faces £20m loss after secretive investment goes bad

THURROCK council , already the subject of controversy over its financial practices, could lose £20m of taxpayers’ money after a secretive investment deal turned sour, reports The Bureau of Investigative Journalism.

As part of its opaque £800m investment strategy, Thurrock invested £30m in PWE Holdings, a sustainable energy business that supplies eco-friendly generators to leisure centres. The investment, made in 2017 via a bond, was supposed to fund the business’s expansion through “new installations and operations”.

For the full story, click below.

https://www.thebureauinvestigates.com/stories/2020-12-17/council-faces-20m-loss-after-secretive-investment-goes-bad

1 COMMENT

  1. Thurrock council are rotten to the core, from forcing through a building project that no residents want to investing in hair brained corrupt schemes it is a law unto itself rather than serving it’s residents. If anyone dares question them they then refuse to answer questions and blacklist them in terms of media relations. The sooner the chief executive and her quisling councilors go the better.

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