Ex-Deutsche Banker Used Tiger Charity To Hide Assets: Soon To Be Ex-Wife

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And you want to know something else? Li Quan isn't even sure her husband ever cared about the tigers in the first place! Did Quan herself use some of the funds earmarked for the animals taking herself out to dinner and order the most expensive bottle of wine on the menu? Yes, but that doesn't change the fact that she felt deeply for those cats.

Stuart Bray and his wife, Li Quan, are fighting over about 50 million pounds ($81 million) of assets held by Save China’s Tigers, which they founded in 2000, in their divorce case in London. The former banker used a trust connected to the charity as “shelter” for their personal wealth, Li said at a hearing in the case this morning. Bray, who left the German lender in 2001, said outside court that “what she is now saying is untrue.” Lawyers representing the charity declined to comment...Li’s evidence suggested she and Bray were defrauding the charity “on a grand and big scale,” Judge Paul Coleridge said to her at the hearing. “It was incredibly dishonest.” Li said she had tried to ensure donations were spent on charitable projects, and the couple had used trusts to store their own assets. “I bought furniture,” she said. “We had expensive dinners. We had expensive wines.” She denied committing fraud and said she had no detailed knowledge of the organization’s financial affairs. “I intensely hope to continue my work” with tigers, she said.

[Bloomberg]

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