Robert Maxwell | Mirror group pension fund | Missing Million | TN-91-150-039 — Transcript

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1. 0:07the latest Revelations surrounding the
2. 0:09Maxwell Empire are probably the most
3. 0:11damaging yet the resignation last night
4. 0:13of Kevin andian Maxwell from the board
5. 0:15of mirror group newspapers signaled the
6. 0:17start of a huge inquiry into allegations
7. 0:20that Robert Maxwell used some 300
8. 0:22million from the mirror pension fund to
9. 0:24prop up some of his other troubled
10. 0:26companies employees and ex employees
11. 0:28have had to endure weak of speculation
12. 0:30following Maxwell's death the daily
13. 0:32headlines charting the fall of a once
14. 0:34powerful business Empire James o worked
15. 0:37as a printer at the Daily Mirror for 17
16. 0:39years he should be due a substantial sum
17. 0:42from the pension fund in two years time
18. 0:44now he's in the dark over where he
19. 0:46stands as Banks owed money by Maxwell's
20. 0:48businesses queue up for payment the
21. 0:50banks made a conscious decision to lend
22. 0:53their money to Maxwell whereas the
23. 0:55pensioners on no occasion were consulted
24. 0:58and it seems that the money was
25. 0:59transferred illegally or as the board
26. 1:02says without due Authority today the
27. 1:06serious Fraud Office stepped in
28. 1:07announcing an investigation into the
29. 1:09affair mirror Executives said they
30. 1:11welcome the inquiry for the employees as
31. 1:13well as the company's sake there are
32. 1:15people who have been involved uh
33. 1:17innocent people who uh are and will
34. 1:19suffer anxiety until we know the whole
35. 1:21truth about the pension fund and so this
36. 1:23is a move we very much
37. 1:25welcome this afternoon representatives
38. 1:28of mirror pensioners were meeting in
39. 1:30London to discuss the latest moves in
40. 1:31the continuing crisis the big question
41. 1:34is whether Robert Maxwell's crumbling
42. 1:36businesses Will Survive and if they
43. 1:38don't whether there'll be enough cash
44. 1:39left for the pensioners most of us have
45. 1:42suffered the loss of our jobs being made
46. 1:44redundant by Mr Maxwell and now it seems
47. 1:48that a stewardship of our Pension funds
48. 1:50leave a lot to be decide for now the
49. 1:53pensioners can only wait in the hope
50. 1:55that their money is safe John Dowden for
51. 1:57temps
52. 1:58news