A luxury camper van has been seized by police as part of an investigation into the Scottish National Party’s funding and finances.
The Niesmann+Bischoff motorhome, worth about £110,000, was taken from a house in Fife around the same time police searched the home of Nicola Sturgeon and husband Peter Murrell, according to the Mail on Sunday.
The vehicle was seized from outside the home of Mr Murrell's mother, Margaret Murrell, it said.
A neighbour described how officers in two unmarked police cars took the vehicle from the driveway of the “modest bungalow”.
“It happened at about 9am, which is about the same time they started raiding Peter's house I think,” the witness told the Mail. “They did not go into the house, as Margaret is quite old now and they would not have wanted to disturb her.
“They couldn't get into the motorhome at first because it was locked and it had clamps on it so they had to get some keys from somewhere. They went off but came back and managed to get it open. Then they loaded it on the back of a huge lorry and — after a bit of trouble securing it — took it away.”
Mr Murrell was arrested and detained for more than 11 hours on Wednesday as part of a police investigation into the funding and finances of the SNP. He was released without charge pending further investigation.
Police also erected a tent and spent two days searching the couple’s house in Glasgow on Wednesday and Thursday.
The party’s Edinburgh headquarters was also searched, with boxes of items removed.
Mr Murrell, who has been married to Ms Sturgeon since 2010, resigned as SNP chief executive last month, a role he had held since 1999.
Police Scotland are probing the spending of around £600,000 which was earmarked for an independence campaign.
Nicola Sturgeon's husband Peter Murrell arrested — in pictures
The force launched a formal investigation into the SNP’s finances in the summer of 2021 after receiving seven complaints about how donations were spent.
The party had pledged to ring-fence more than £660,000 ($818,790) raised for a second referendum on Scottish independence — but the money was allegedly spent instead.
The SNP had less than £97,000 in the bank in late 2019 and total assets of about £272,000.
The investigation has been described by SNP president Mike Russell as the party's biggest crisis in 50 years.
On Saturday, Ms Sturgeon spoke publicly for the first time since her husband's arrest, addressing reporters outside her home.
In a short statement, she said the last few days had been “obviously difficult” and that she would “fully co-operate” with the police investigation.
She said Mr Murrell is home but “not able to say anything” about his arrest while the inquiry continues.
“Again, that's not necessarily a matter of choice. That's just the nature of this,” she added.
The Glasgow Southside MSP said she intends to “get on with life and my job, as you would expect me to”.
On Friday it emerged that the accountancy firm which had audited the SNP's books for more than a decade had resigned.
Johnston Carmichael reportedly informed the party of the decision before Mr Murrell's arrest.
The party's treasurer is now seeking another auditor in order to comply with Electoral Commission rules.
Police Scotland have said their investigation is continuing.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The%20Super%20Mario%20Bros%20Movie
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Engine 3.6-litre V6
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Power 280hp @ 6,200rpm
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Fuel economy, combined 11.7L / 100km
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Profile Periscope Media
Founder: Smeetha Ghosh, one co-founder (anonymous)
Launch year: 2020
Employees: four – plans to add another 10 by July 2021
Financing stage: $250,000 bootstrap funding, approaching VC firms this year
Investors: Co-founders
Brief scoreline:
Wales 1
James 5'
Slovakia 0
Man of the Match: Dan James (Wales)
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Diriyah%20project%20at%20a%20glance
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Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Company%20profile
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Meydan card
6.30pm: Al Maktoum Challenge Round-1 (PA) Group 1 US$65,000 (Dirt) 1,600m
7.05pm: Conditions (TB) $100,000 (Turf) 1,400m
7.40pm: UAE 2000 Guineas Trial (TB) $100,000 (D) 1,600m
8.15pm: Handicap (TB) $175,000 (T) 1,200m
8.50pm: Al Maktoum Challenge Round-1 (TB) Group 2 $350,000 (D) 1,600m
9.25pm: Handicap (TB) $175,000 (D) 1,900m
10pm: Handicap (TB) $135,000 (T) 1,600m
SCORES
Yorkshire Vikings 144-1 in 12.5 overs
(Tom Kohler 72 not out, Harry Broook 42 not out)
bt Hobart Hurricanes 140-7 in 20 overs
(Caleb Jewell 38, Sean Willis 35, Karl Carver 2-29, Josh Shaw 2-39)
Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
KILLING OF QASSEM SULEIMANI
BMW%20M4%20Competition
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Last-16
France 4
Griezmann (13' pen), Pavard (57'), Mbappe (64', 68')
Argentina 3
Di Maria (41'), Mercado (48'), Aguero (90 3')
OIL PLEDGE
At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.
Brief scoreline:
Tottenham 1
Son 78'
Manchester City 0