Multimillionaire former energy minister Charles Hendry is believed to have pocketed over £4000 a month working part-time for the oil businesses invested in by the collapsed London Capital & Finance.
Hendry was employed by the controversial businessman Simon Hume- Kendall to work at London Oil & Gas, which borrowed £122 million from LCF to invest in risky oil and technology projects.
Hume-Kendall was the founder of LCF under its former name of South Eastern Counties Finance and is one of the businessmen arrested and released pending investigation by the Serious Fraud Office.
Hendry, the owner of Blair Castle in Scotland, was put on the board of Atlantic Petroleum and Independent Oil and Gas as a nominee director of Hume-Kendall’s London Oil & Gas. Administrators hope to recover the money LCF lent to the oil businesses.
News of his pay is likely to anger LCF bondholders but Hendry, who declined to comment on the payments, said that he provided valuable service to the companies.
