Has there ever been any mention of what is happening with the interest it gets and who that goes to?
I doubt the amount that has been earned in interest has been added to the current figure on the website and I would almost imagine it is going into a seperate account as technically it hasn't been donated and hence doesn't necessarily need to go to the fund, or for that matter, be accounted for
2007-08-30 01:05:21 · 12 answers · asked by Anonymous in News & Events ➔ Current Events
freethinker, I didn't say I discovered a loophole...I was asking if anyone knows what is happening to that little bundle of interest!!
2007-08-30 01:14:47 · update #1
Gerry. :)
2007-08-30 01:16:19 · update #2
cheek of it all...calm down. I asked a question. it is not slander! and it's not an argument. It is a question and it has been a slow week for McCann questions so stop your whining already!!
2007-08-30 01:40:14 · update #3
Another reasonable question blown out of proportion by the "loon squad" again.
I think this is quite a reasonable question and in no way is this stirring.
Having donated to the fund myself, I would like to know what is happening with donations & the interest they have earned. I gave without condition and stand by that.
2007-08-30 02:12:45 · answer #1 · answered by K-9 3 · 11⤊ 4⤋
I don't know about the interest.
However;
For anyone who donated who wants to know what their money was spent on, keep an eye out for their published accounts from Companies House around this time next year. They will be available to buy online.
2007-08-30 04:50:09 · answer #2 · answered by gill79 4 · 4⤊ 0⤋
What happens to the interest depends, as you say, on the way the account for the funds has been set up. It may be possible to compound the money and add the interest to initial capital, or it may HAVE to be put into a second account if the terms of the original contracts prohibit the adding of interest. NO company is ever as transparent in its dealings as it would have the world believe - and I've worked for a few in my time.
2007-08-30 01:37:08 · answer #3 · answered by Anonymous · 7⤊ 3⤋
How come so many people think they know that all the money and/or interest is accounted for you know absolutely nothing about it unless you are the ones handling the money.
Damn right for people to be suspicious as to where money for funds like this go after all its our money !!
Van is just being a realist like me and other sensible people we live in the real world not the sugar coated coated one with fluffy candyfloss clouds and everyone loves each other.
GET REAL PEOPLE !!
Its great that funds like this are set up but what actually is it spent on ??????
We never get to know do we !
And there is ALWAYS someone along the line who gets their cut ,you dont honestly think every penny goes to the fund and what its for ??
Whatever that is !
Baz
Oh and Free Thinker thats a strange name isnt it for someone who doesnt like others to think or speak freely isnt it.
2007-08-30 04:53:57 · answer #4 · answered by Phat Baz 3 · 4⤊ 4⤋
Sam J - "this family is honest and innocent"! Ha ha ha!! That's the best joke I've heard in ages! If that is so, why have they lied to police throughout the investigation? McCanns: shutters were forced. Police conclusion: they weren't. McCanns: apartment door was locked. Police conclusion: It wasn't. McCanns: We checked on the children every half an hour. Police conclusion: They didn't. McCanns: We didn't sedate the children so they'd sleep. Police conclusion: They did sedate the children. McCanns: Tapas bar is 50-100 yards away from apartment. Fact: It is a 350+ yard walk. McCanns: We could see apartment from Tapas bar. Fact: The apartment was obscured by trees and other foliage.
Need I go on?
2007-08-30 01:43:00 · answer #5 · answered by Anonymous · 14⤊ 4⤋
It goes back into the fund of course. Interest is applied directly to the account.
In a UK bank account that would be approximately 6.10% interest per year - £61,000 per annum. ROUGHLY.
Why don't you suggest they save it in an Islamic account. Interest is not paid there, all the profits go to the madrassa's mosques and clerics.
2007-08-30 01:34:16 · answer #6 · answered by Anonymous · 5⤊ 3⤋
At the end of the day I expect the fund will be theirs to do as they like. The interest gained (£1,000 ish a week )will become part of the fund and the shareholders will be able to do what they like with it.
2007-08-30 01:54:27 · answer #7 · answered by little weed 6 · 7⤊ 3⤋
Sam J. Does J stand for joker, cos you sound like one.
If McCanns are decent honest people I'm the pope. Not only that if they told the truth, they'd be in custody now. Get real Sam.J. McCann
2007-08-30 02:46:12 · answer #8 · answered by Anonymous · 10⤊ 4⤋
Firstly, i don't recall anyone saying that the fund is "completely account for"...
What has been said, repeatedly, is that the fund (which to normal people would include that little bundle interest) is not being used to fund Madeleine's parents lifestyle. They live off their own personal finances.
And they have always maintained that once they know for sure that their Madeleine is no more the fund (and that little bundle of interest that so interests some people) would be donated to a children's cause in her memory.
2007-08-30 01:25:31 · answer #9 · answered by Faith 6 · 5⤊ 8⤋
The fund isn't and does not have to be accounted for.
It isn't a charity - they don't have to declare any donations of spending. The IR have NOTHING to do with it! It is a private Ltd Company calling itself a 'fund'.
I could start a Ltd Co called 'Buy Heather A Designer Bag Fund' and if people donated to it and I bought a hat instead there is feck all can be done!
I'm not casting aspirations here on the integrity of the McCanns but there is absolutely NO obligation on them (other than perhaps a moral one) to tell anyone what they are using the 'fund' money for.
They are voluntarily following a 'code of conduct' which doesn't mean jack really.
Little bundle? About £1k a week at least!
Sam - what law states a Ltd Company with no shareholders has to make its accounts public and transparent?
Thumbs down for stating facts - the McFans are out in force the day!
2007-08-30 01:19:09 · answer #10 · answered by Anonymous · 12⤊ 12⤋