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JOHNSON MATTHEY COLLAPSE:

  • Story ref: AS270885010
  • Contains: 1 Clips

}132375 JOHNSON MATTHEY COLLAPSE: A link is established between

27.8.85 the collapse of the Johnson Matthey Bank (which had to

TX be rescued by the Bank of England last year) and loans

made...

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ENGLAND MS Ian Fraser (JMB director who resigned after Bank of
London England rescued bank) walking towards in street

CMS IAN FRASER (former director JMB) i...



ENGLAND MS Ian Fraser (JMB director who resigned after Bank of
London England rescued bank) walking towards in street

CMS IAN FRASER (former director JMB) intvw EXT SOF:
(refuses to comment on the affair)
"Well my conscience is clear -- clients" FREEZE FRAME

STILL Bank of England Report & Accounts 1985 document
GRAPHIC Loss due to massive loans to two customers, Mahmud
Sipra and the Imams (formerly Sipra's brothers-in-law
and now his rivals)

London CMS Mahmud Sipra working on film set as a
freelance film director
BV Sipra & camerman shooting scene in room
of house
MS Sipra watching scene

NIGERIA Excerpt from "Konkombe" (Nigerian TV )
Lagos music programme): )
MS Band playing on stage with guitars ) HARCOURT
CMS Bank notes being passed from hand to ) FILMS
hand (known as "dashing money") )
CMS Man handing out money to others )
BV Man handing money to the band )
CMS Singer singing while holding money )
BV Three women singers in Nigerian costume)
dancing on stage )
CMS Woman accepting money as she dances )
BV Woman handing money to band on stage )
CMS Band smiling and accepting money )

LMS Construction site, lorry along in BV ) RR
MS Scaffolding and girders on construction) 8403A
site )
LMS Two men walking across huge empty )
factory under construction )
LA Girder construction of tall building )
ZOOM IN three workmen on girders )

ENGLAND MS Dealers seated at computer terminals in
London the Precious Metal dealing room
Johnson CBV Dealer on phone
Matthey Bank CMS Two dealers on phones
CMS Dealer on phone
CBV Dealers at computer terminals
TMS Ditto

CMS EDWARD STOURTON sitting in JMB boardroom I/C SOF:
"When Johnson Matthey decided --

GRAPHIC Johnson Matthey Bankers and Sindhi Circle
(group of Indian traders in London)
STILL Rajendra Sethia (at centre of Sindhi Circle;
now the world's biggest bankrupt, and in prison
in India awaiting trial) (B/W)

LA EXT "Johnson Matthey Bankers Ltd" ) TX
building ) 20.6.85
) ITN

CMS MIHIR BOSE (Financial Weekly) intvw EXT SOF:
(on the reasons why JMB made such loans)
"The advantages -- sort of idea"

CMS Sethia family album opened to show cars owned
by Raj Sethia
STILL Sethia and wife (colour photo)

London CMS Umaru Dikko, Nigerian Finance Minister ) TX
(later kidnapped by Nigerians in an ) 12.2.85
attempt to fly him home (in a crate) to) ITN
face corruption charges) )
MS Dikko with colleague, being intvwd )

STILL Sethia (awaiting trial in New Delhi) (B/W)
+ GRAPHIC

1984
NIGERIA MS TRACK ALONG street by market stalls ) RR
MS People in street, tall buildings in B/G) 8403A
)
MS Gen Mohammed Buhari in uniform reading )
statement (his coup ousted civilian )
govt of Pres Shagari) )

January 1984
MS SIDE TV cameramen & press at PKF ) GS
CMS GENERAL MOHAMMED BUHARI pkf SOF: ) 11018402
"Gentlemen of the press -- to change" )

LMS Troops at checkpoint ) TX
MS Soldiers check under bonnet of car ) 9.1.84
CMS Soldier patrolling in narrow alley of ) ITN
market )
CBV Soldier talking to stall holders )

AV EXT National Bank of Nigeria facade ) TX
PULL BACK busy traffic ) 17.3.81
) ITN
ENGLAND STILL Liner bill of lading
London (Sethia was caught in shipping fraud, claiming
ITN Studio cargo was going to two different places)

Hampstead MS EXT Sethia's (#3m) house in Hampstead
seen through trees of garden
MS Private lake in garden, amongst trees
MS "For Sale" sign outside house

INDIA CMS Sethia under arrest in India, with wife)
New Delhi (facing fraud charges over dealings ) ITN(Percy)
with Indian banks) )
CMS Sethia under arrest, towards )

ENGLAND CMS EXT "ESAL HOUSE" doorway PULL BACK
London LA Windows of tall Georgian house TILT DOWN

CMS MIHIR BOSE ("Financial Weekly") intvw EXT SOF:
"Rajendra Sethia was the kingpin -- collapsing"

GRAPHIC JMB & Singhi Circle, #80m loans outstanding

CMS EDWARD STOURTON I/C SOF:
"In normal circumstances -- severe setback

AV EXT JMB large pink-brick building PAN R-L
CMS Lettering on wall "JOHNSON MATTHEY 43 HATTON GDN"
AV EXT building

STILL JMB Directors' Report 1984
+ GRAPHIC US Jewellery Loss $69m

STILLS Abdul Shamji investor (B/W)

USA SEQ Excerpt from US television series, ) LIFE-
"Lifestyles of the Rich & Famous": ) STYLES
featuring Mahmud Sipra being intvwd ) PRODS
and boarding his yacht with female )
companion )

ENGLAND 2 SHOT Sipra & Stourton
London CMS MAHMUD SIPRA intvw SOF:
(says JMB made large profits from his account)
"I think in the last year -- every development"

MS Sipra at desk opposite business colleague
CMS Sipra in office, talking

STILL Novel "Pawn to King Three" by Mahmud Sipra

CMS MAHMUD SIPRA intvw SOF:
"Somebody needed -- the dust will now settle"

STILL Nigel Lawson, Chancellor of the Exchequer
STILL Labour MP Brian Sedgemore (has asked for
public enquiry)
STILL SDP Ldr David Owen (calling for enquiry)
STILL Sir Geoffrey Howe (Foreign Sec)

The City CMS EDWARD STOURTON I/C SOF:
"Politicians of all parties -- to suffer"
(+ SIGN OFF)

VIDEO ex LIB(RR/ITN/UPITN)/ENG(Percy/Brown/Phillips/Rose/
Angel/West)/HARCOURT FILMS/LIFESTYLES PRODUCTIONS
TX 27.8.85/C4N
Archive Tape & Cas 26092 85/C4N/X19143 03.00 to 17.10




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!This clip is an original Reuters news report, or rushes package. Please read our Disclaimer

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