Printer Friendly

How painting sparked tax team probe; THE PROBE.

THIS painting on the wall of King's mansion sparked the investigation into his tax affairs.

The Scot bought Cape Girl with Fruit for pounds 140,000 in May 2000 at an auction in his adopted home city of Johannesburg.

And later, the tycoon gave a magazine interview where he discussed the painting.

The piece caught the eye of South African Revenue Service investigator Charles Chipps, who had just processed King's tax return.

King had claimed that his earnings for the year were just pounds 6279, and had even asked to be taken off the register of taxpayers.

But when Chipps began looking into the businessman's finances, he found a vineyard in Stellenbosch, a private jet, Ferrari sports cars and a pounds 1.2million mansion in the most exclusive part of Johannesburg, Sandhurst.

King, 54, had bought four homes, demolished them and built a walled mansion on the site.

Digging deeper, Chipps and his colleagues found a myriad of companies with Scottish names such as Ben Nevis and Glencoe.

King was alleged to have made millions in shares without giving the taxman his due.

He was arrested in 2002 and continues to protest his innocence.

King rose from humble beginnings in Glasgow to become one of South Africa''s richest men.

He was born in the tough Bridgeton area of Glasgow in a flat that's now a tanning salon. He was the fifth of seven children, and his three brothers and three sisters still live in and around the city.

King arrived in South Africa in 1976 with only 170 rand in his pocket and set about building his empire.

His success earned him a place at the top of South African society.

He is a member of the exclusive Johannesburg Country Club and counts golfing legends Gary Player and Ernie Els among his friends. He once paid pounds 100,000 to caddy for Player at a tournament.

His wife Ladina is a leading socialite, horse rider and golfer, and a pal of Kenny Dalglish's wife Marina.

When we asked Ladina about her husband's legal difficulties, she told us: "There's no point talking to me about it, you'll have to speak to him." He did not return our calls.


Luxury: King's mansion Art attack: Picture launched taxmen investigation
COPYRIGHT 2009 Scottish Daily Record & Sunday
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Sunday Mail (Glasgow, Scotland)
Date:Nov 1, 2009
Previous Article:Carlsberg don't make rock gigs... SUPERSTARS SHINE AT BEST CONCERTS EVER.

Related Articles
No bark from Beagle; Let's find out what went wrong says Welsh scientist.
Is your ICV a shock hazard waiting for a victim?
NHS software firm probed.
TROUBLED CLUB IN FRAUD QUIZ; Cops probe books of under-fire Halesowen: EXCLUSIVE.
Planck spacecraft obtains first peek of big bang's 'afterglow'.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters