The Cayman Islands
In regard to accountability, there is a rumor that certain members of management are paid through accounts in the Cayman Islands.
Can anyone shed light on or substantiate this? If this is true, transparency needs to be in play and the members need to know.
posted by Unlock at 12:19 AM
4 Comments:
This is an outrage if true!!!
As I understand things, the Cayman Islands company is a special purpose vehicle holding the Azabu Towers asset....and DEBT!
This is the first I have heard of deferred salaries being paid through a Cayman Islands account...
If you read a previous post quote
"How many of the members can retire after working in company for 5 years with a USD 1 million payout, on top of a very reasonable package. Not many I suspect. But that has been and is the reality with the last 3-4 managers of your club, and will be the reality for the next retiree from the post."
then this would indicate that this is a well-established practise?
Is it? Or is this just a TAC urban legend?
CAYMAN ISLANDS
In relation to this rumor about certain members of TAC's management being paid thru the Cayman Islands, I'd very much like some comment to be made by the management of the Club as to whether this is true or false.
If false, then that's the end of the matter. If true, I'd like to know why since such a situation would significantly "assist" those involved from a net income standpoint & that's not at all fair in view of the fact that the great majority of TAC fee-paying members are liable for the regular Japanese taxation.
Let's try to get to the bottom of this one.
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