The Prime Minister was accused of rewarding his party’s “friends in the City” after a knighthood was given to Paul Ruddock for services to the arts and a CBE to Gerald Ronson for his charity donations.
Mr Ruddock, a hedge fund manager, profited from the collapse of Northern Rock and donated £500,000 to the Conservatives.
His company used a practice known as “short selling” to bet on shares in the bank falling. Northern Rock subsequently failed and had to be rescued by the taxpayer.
Mr Ronson, a millionaire property developer, was convicted of theft, conspiracy and accounting fraud following the Guinness scandal in 1990.
He served six months of a one-year sentence and has always denied any wrongdoing.
The business tycoon, whose company built the tallest skyscraper in the City of London, has since given much of his fortune to charity. His wife also recently received an honour.
The Cabinet Office refused to confirm whether the honour was the first senior award to be given to someone who has been convicted of a crime. » | Rowena Mason, and Robert Winnett | Saturday, December 31, 2011
What a load of sh** the New Year's Honours List is! It should be scrapped. It is BS from start to finish. Is this man a former member of the Bullington Club, I wonder? Cameron is looking sleazier by the minute. – © Mark
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THE DAILY TELEGRAPH: New Year Honours 2012: full list of recipients – Here is a full list of recipients of the New Year Honours 2012. » | Saturday, December 31, 2011
