Iranian-born property tycoon Vincent Tchenguiz is out for revenge on “third parties, acting in their own commercial interests, ” whom he blames for the shaming probe against him. And to that end he’s looking for allies.
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Tchenguiz is suing Grant Thornton LLP, the sixth largest accounting network in the world, and the Icelandic bank Kaupthing, for damages in hundreds of millions of dollars, after the nasty troubles he says they caused him.
This after, last Friday, Tchenguiz accepted a paltry $5 million in damages plus legal costs and a full apology, to settle his claims of false imprisonment and malicious prosecution following the collapse of Kaupthing.
According to the Telegraph, Tchenguiz has placed repeated calls to Irish-born telecommunications entrepreneur Tom McCabe, to offer support for McCabe’s own battle over a $565, 000 phone bill he owes British Telecommunications PLC (BT).
McCabe claims he didn’t make all those calls, which were made by an outfit called VIP.com in November 2007, because by then he had already sold the chattering company.
Grant Thornton, which participated in liquidating VIP.com when it went under in February 2009, is accusing McCabe of fraud.
And Vincent Tchenguiz knows first hand what it feels like to be accused of fraud by Grant Thornton, and what can happen to an individual once he faces such accusations by a giant corporation.