Shrien Dewani has cash problems

2010-12-12 17:37

Johannesburg - Murder suspect Shrien Dewani’s nursing homes company is in serious financial trouble and closely associated with shadowy entities registered in the tax haven, Guernsey.

Dewani has been fingered in the murder of his wife, Anni, while on their honeymoon in Cape Town. 

City Press obtained and analysed the audited accounts of PSP Healthcare Ltd, a company registered in the United Kingdom, for the year ending January 31 2010.

Shrien Dewani, his brother Preyen and Wayne Shermon are the ­directors of PSP, which owns nine nursing homes and old-age care villages in the UK and Wales.

It has been suggested that a possible motive for the murder of Anni Dewani could have been possible financial gain for her husband, ­although no proof has been presented that he would benefit from her policies or investments.

PSP operates from a large house in Bristol and Shrien Dewani is ­also the company secretary.

City Press asked Rob Theunissen, forensic auditor at the Independent Regulatory Board for ­Auditors, to analyse PSP’s accounts and give his opinion on the company’s financial health.


Looking at the abbreviated ­audited accounts submitted to the UK’s Companies House, Theunissen said the financial position of the company was “tenuous”.

“What is evident is that PSP was being financed by group undertakings.

"Notes to the accounts reflect that borrowing from group undertakings increased by £1.7m (about R18m) during the year, to £2.8m. This is a large increase in the context of annual turnover being slightly above £8m and the company achieving an operating loss for the year of £575 841.”

PSP’s liabilities exceeded its assets at January 31 2010 by more than £2m (compared to £1.2m for 2009) and the company’s financial position worsened during the year, incurring a loss of £744 004.

According to the directors’ ­report, they are “confident about the continuing financial performance of the business and continue to ­review opportunities provided through PK Holdings and others”.

Tax haven

“This statement is rather meaningless but could merely be badly worded,” said Theunissen.

Curiously, PK Holdings and at least two other companies PSP borrowed money from are registered in Guernsey. The group of ­islands, in British jurisdiction, has been called a “stinking tax haven” which provides high levels of ­secrecy for shareholders.

Two of the Guernsey companies PSP borrowed money from – Heanton Holdings and PSP Care Villages – submitted written waiver resolutions to Guernsey’s registrar of companies, exempting them from having their accounts audited.

The directors and owners of these companies are unknown and the only names associated with them are those of administrators in the tax haven.

  • jiyane_sipho - 2010-12-13 00:11

    So there we have it from the experts, Dewani could not afford his holiday, so he had to cut it short as he could not afford the hotel bill. Other possibility is holiday insurance fraud. Thats plenty of motive. Or perhaps the most plausible theory is that the cab driver is making up this story so he got 18 years rather than life in prison. Please get your expert to give us the probability ratio of the self-confessed murderer or the husband telling us the truth. If Dewani wanted to have his wife killed he could have waited to have the legal UK court wedding which was in the pipeline. This would have ensured he gained financially. The timing of his wife's killing was not in Dewani's financial interest. Dewani would surely have known this as from your article he was having cash problems. Get your experts to shed some light on that angle. Otherwise we are just being biased against Dewani and cannot offer him a fair trial. - 2010-12-13 08:05

      Excellent unbiased analysis! Finally someone with a brain commenting.

  • GBES - 2010-12-13 08:39

    The go between at the Hotel front desk, will tell us much more in court.This Dewani guy will do anything for a fast buck.He has lied to the travel agents,paid peanuts to the hired guns,fudged his financial reports,and probably gave Anni a fish & chips dinner.The man is a con.

      snrusa - 2010-12-13 10:22

      Linda Faith, you are stereotyping.....don't be a jerk

      rish_zn - 2010-12-13 11:07

      @linda, dont generalize and stereotype, what is wrong with getting the best deal, the only fools here are the ones who carried out the murder for a mere 15k. In fact they would have settled for much less, just shows the value of human life in this country.

      edlih1 - 2010-12-13 13:46

      rish_zn "what is wrong for the best deal", you really mean this? That was not negociating the best deal anymore, the husband was a real conman, that is steeling. EVERYTHING is wrong with that. I'm no native Englishspeaker C'est mauvais, très mauvais, c'est criminelle - 2010-12-13 19:19

      GBES - like u never lied to get something cheap before - u must be super wealthy or super foolish if the opportunity came to you and you didnt - and yes that includes doing stuff to increase u tax rebates!

  • edlih1 - 2010-12-14 20:41 Im not very wealthy, I'm not poor neither, and never never I have lied to have a good deal, negociated on facts yes.(That's what everybody in business do) BUt telling lies....goh, I gues no moralls than, and no negociation skills.

  • edlih1 - 2010-12-14 20:46 Do you know what fine you get here (in my country) to fool with your taxes.... 'The husband" lied= steeled, pretended to be something he was not, so what else does he PRETEND....if one does it already to con a hotel..well according my morals that's bad, C'est scandaleux, c'est déjà un criminelle pour avoir fait ça

  • - 2010-12-16 22:36

    media gives us lies to make headlines and money.

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