A shocking case of fraud has emerged, involving rogue businessman Liam Kavanagh, who allegedly swindled Thurrock council in Essex out of a staggering £130 million. The Bureau of Investigative Journalism has revealed that Kavanagh and his companies duped the council into investing almost its entire annual budget by inflating the value of a group of solar farms. The money obtained was then squandered on a lavish lifestyle, including a country estate, a private jet, a luxury yacht, and extravagant purchases amounting to millions of pounds.
Kavanagh’s opulent spending spree extended to gaudy crystal decorations at one of his properties, a £2.3 million Bugatti supercar, and a million-dollar diamond-encrusted Hublot watch, which alone cost more than double the average house price in the area.
In an audacious move, Kavanagh directed one of his directors to provide further exaggerated information to secure an additional £40 million from the council. He assured his colleague that any potential loss for the council would not be a problem.
Unfortunately, Thurrock’s chief financial officer, Sean Clark, ignored legal concerns and transferred the requested £40 million, along with the previous £90 million. As a result, the council now faces financial ruin, forcing the burden on taxpayers through increased taxes and severe service cuts for years to come.
These shocking revelations come after a four-year investigation by The Bureau of Investigative Journalism, in collaboration with Panorama, raising calls for a police investigation into the matter. Thurrock council leader Andrew Jefferies expressed deep regret for the failings that led to this disaster.
Kavanagh, however, vehemently denies any wrongdoing and claims that his businesses were not responsible for the council’s investment decisions. He asserts that the council’s agreements allowed his businesses to use the invested money at their discretion.
The financial records seen by The Bureau of Investigative Journalism indicate that almost all of the £130 million rapidly disappeared from Kavanagh’s company accounts, with little trace of where it went. Kavanagh insists that his businesses provided accurate information to the Association for Public Service Excellence (APSE), which was responsible for evaluating the solar farms.
Despite Kavanagh’s denials, evidence points to a deliberate attempt to deceive the council by inflating the value of the solar farms, leading to substantial losses for the taxpayers and enriching Kavanagh’s personal wealth.
Thurrock council is now facing dire consequences, with a budget gap of nearly £500 million, requiring significant tax increases and service cuts. A government bailout of £635 million has been provided to help balance the books, but the council will face financial strain for at least two decades.
Despite the gravity of the situation, there is yet to be a criminal investigation by Essex Police or any civil legal action against those involved. Kavanagh appears to have liquidated his companies, sold his assets, and is now residing in a luxury villa in Dubai, a city infamous as being the safe haven for criminals, terrorists, mafias, money-launderers, and scammers.
The people of Thurrock are left to grapple with the repercussions of this massive fraud, while the investigation into the true extent of the damage and the responsibility of those involved continues.
