Cherie Blair Facing questions

Financial Services Authority says it has no knowledge of Cherie Blair's company



Cherie Blair faces questions over why her investment company claims it is
authorised by the Financial Services Authority













Cherie Blair's involvement with Allele
came to light last year when she lent her name to a fund-raising
prospectus for the company Photo: REX























By Tim Walker




7:30AM GMT 10 Jan 2012








As Tony Blair’s financial affairs are subjected to fresh scrutiny after The
Sunday Telegraph disclosed that he paid just £315,000 in tax last year
on an income of more than £12 million, the former prime minister’s wife,
Cherie, faces questions about her own investment company.



The Allele Fund, which Mrs Blair co-founded with her American friend Gail
Lese, a former Republican political candidate, states on its website that it
is “authorised and regulated by the Financial Services Authority”. However,
a spokesman for the FSA tells Mandrake: “We have no record of Allele as an
FSA authorised or recognised fund.”



Yesterday a spokesman for the Allele Fund told me: “FSA registration is not
required for the Allele Fund, as – under the FSA definition – there are no
Allele Fund management activities undertaken in the UK at present. When, and
if, the Fund decides to undertake regulated activities in the UK, it would
of course apply for registration to the FSA in the normal way.”



When Mandrake acquainted the spokesman with what it states in black and white
on his own website, he persisted: “To the best of our knowledge, our website
does not make this claim.”



Mrs Blair’s involvement with Allele came to light last year when she lent her
name to a fund-raising prospectus for the company. One of its investments is
in the health care company MEE, which aims to set up health care clinics in
British supermarkets.

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10 Jan 2012



This caused controversy because the Labour Party is opposed to greater private
involvement in the health care system. Miss Lese later insisted that the
company’s aim “is to support the NHS”.


Allele states on its website that its strategy is to “invest in high-growth
health care and technology companies worldwide”. Allele’s claims in relation
to the FSA are made within the privacy policy and terms and conditions
section of its website.

I cannot believe for a moment that the wife of our trustworthy ex Prime Minister would sully their family reputation by any involvement with dubious and unprincipled dealings.