Edward Banayoti: Difference between revisions
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'''Edward Sawiris Banayoti''', formerly known as Ernest (Ernie) Anderson and also known as Ashraf Banayoti, is a businessman of Egyptian origin based in [[Canada]]. |
'''Edward Sawiris Banayoti''', formerly known as Ernest (Ernie) Anderson and also known as Ashraf Banayoti, is a businessman of Egyptian origin based in [[Canada]]. He is the founder of arms brokerage company ''Defence Unlimited'' in Malta. |
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He has variously been reported, and has said to be, active in financial investments, [[real-estate]], [[commercial aviation]], |
He has variously been reported, and has said to be, active in financial investments, [[real-estate]], [[commercial aviation]], and [[lobbying]].<ref>{{Cite web|title=Canadian Business Awards 2019|url=https://www.cv-magazine.com/issues/canadian-business-awards-2019/34/|access-date=2020-06-06|website=www.cv-magazine.com}}</ref> |
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== Career == |
== Career == |
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After graduating from the University of Toronto with an accounting degree and finishing schooling at York University in Ontario, Banayoti began his business career in the real estate and hotels sector. He has since established the Silent Circle Corporation in Canada, a sales agent for encrypted phones (black phones), among other global business ventures. |
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Banayoti attracted media attention in [[Malta]] in 2016 when he made a bid for a 49.9% stake in [[Air Malta]] through his UK company ''Banayoti Holdings Limited''.<ref>{{Cite web|url=https://timesofmalta.com/articles/view/new-offer-to-buy-into-air-malta.630790|last=Camilleri|first=Ivan|title=New offer to buy into Air Malta|date=2016-11-13|website=Times of Malta|language=en-gb|access-date=2019-06-16}}</ref><ref name="MT EUbase"/> The company had been registered earlier in 2016 with a [[share capital]] of EUR 1.85 billion which was never paid up, according to the company accounts.<ref name="Companies house">{{Cite web|url=https://beta.companieshouse.gov.uk/company/10260186/filing-history|title=Banayoti Holdings Limited - Company filing history|website=UK companies house}}</ref> Banayoti is reported to have met only once with the Maltese government, after which his offer was rejected with a government spokesperson claiming that a standard [[due diligence]] search on Banayoti and his companies "clearly showed, even at a preliminary stage, that his companies would not match government plans to identify a strategic partner which can assure a positive turnaround for Air Malta”<ref>{{Cite web|url=https://timesofmalta.com/articles/view/no-go-on-air-malta-offer-now-its-back-to-brussels.631399|last=Camilleri|first=Ivan|title=No go on Air Malta offer, now it’s back to Brussels|website=Times of Malta|date=2016-11-18|language=en-gb|access-date=2019-06-17}}</ref> |
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In 1990, Banayoti founded a defense company ''Defence Unlimited''. The company is registered as an organisation on the EU list of lobbies as of 2017 and is listed as a "broker of military assets" able to deliver various military hardware, such as ships, hand-held weapons, radar systems and armored vehicles, as well as specialized defence related training. |
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''Banayoti Holdings Limited'' was dissolved in 2018.<ref name="Companies house"/> |
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Banayoti now serves as the executive chairman of Defense Unlimited. He also maintains CEO roles with Cornerstone Holdings Corp, the Canadian Association of Political Consultants (CAPC)<ref>{{Cite web|title=Federal Corporation Information - 774690-3 - Online Filing Centre - Corporations Canada - Corporations - Innovation, Science and Economic Development Canada|url=https://www.ic.gc.ca/app/scr/cc/CorporationsCanada/fdrlCrpDtls.html?corpId=7746903&V_TOKEN=1591366678259&crpNm=Canadian%20Association%20of%20political%20&crpNmbr=&bsNmbr=|access-date=2020-06-06|website=www.ic.gc.ca}}</ref>, the Canadian Defence Export Control, and the League of Lobbyists & Advocacy Professionals in the United Kingdom. He is a member of the Canadian Center for Ethics and Corporate Policy, and served as co-chairman on the international board of the [[International Centre for Democratic Transition]] (ICDT)<ref>{{Cite web|title=ICDT :Supporting Hungarian decision-making to be able to deal with the upcoming political, social and security related challenges independently from political parties|url=http://icdt.world/portfolio.html|access-date=2020-06-06|website=icdt.world}}</ref> based in Budapest, Hungary. |
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The press coverage from this failed bid brought Banyoti to the attention of Maltese investigative journalist and anti-corruption activist [[Daphne Caruana Galizia]], who investigated his prior business dealings in Canada under his former name Ernie or Ernest Anderson.<ref name="MT EUbase" /><ref name="Change of name">{{Cite web|url=https://www.ontario.ca/document/ontario-gazette-volume-148-issue-12-march-21-2015/government-notices-other|title="Government Notices — Other: Change of Name Act|website=www.ontario.ca|access-date=2019-06-16}}</ref> According to the article, in 2005 the [[Ontario Securities Commission]] (OSC) opened an investigation into Banayoti's company ''Golden Gate Funds'', an unlicensed investment firm marketing its products to the public.<ref name="MT EUbase" /><ref name="CTV GGF">{{Cite news|url=https://www.ctvnews.ca/golden-gate-funds-leaves-a-trail-of-lost-investments-1.505747|last=Popyk|first=Tom| title=Golden Gate Funds leaves a trail of lost investments| date=2010-04-24}}</ref> |
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More than 150 investors collectively invested over $8-million into this fund managed by Banayoti (known as Ernest Anderson at the time), before the company went bankrupt. A case was heard before an OSC tribunal and a settlement was agreed in 2009 in which Banayoti acknowledged using investor funds not to invest in mortgages, as he told investors, but to cover operating costs and make payments to previous investors. As part of the settlement, the OSC demanded $4.7-million in monetary penalties.<ref>{{Cite news|url=https://www.theglobeandmail.com/report-on-business/crime-and-no-punishment-canadas-investment-fraud-problem/article13938792/|last1=Gray|first1=Jeff|last2=McFarland|first2=Janet| title=Crime without punishment: Canada’s investment fraud problem| date=2013-08-24| publisher=[[The Globe and Mail]]}}</ref><ref>{{cite web |title=Settlement Agreement Between Staff and Ernest Anderson and Golden Gate Funds LP |url=https://www.osc.gov.on.ca/documents/en/Proceedings-SET/set_20090925_andersone.pdf |website=Ontario_Securities_Commission |date=2009-09-25| accessdate=26 June 2019}}</ref> As of January 2012, the full amount of the penalties remained unpaid. <ref>{{Cite news|url=https://www.theglobeandmail.com/globe-investor/osc-collects-only-a-fraction-of-fines-it-imposes/article544385/|last1=Gray|first1=Jeff| title=OSC collects only a fraction of fines it imposes| date=January 18, 2012| publisher=[[The Globe and Mail]]}}</ref> |
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In 2015, Banayoti changed his name from Ernest Anderson to Edward Banayoti<ref name="Change of name"/> and founded the arms brokerage company ''Defence Unlimited'' in Malta. The company is registered as an organisation on the EU list of lobbies as of 2017<ref name="MT EUbase">{{Cite news|url=https://www.maltatoday.com.mt/news/national/94174/defence_consultant_edward_banayoti_sets_up_eu_base_in_malta|last=Vella|first=Matthew|title=Defence consultant Edward Banayoti sets up EU base in Malta|date=2019-04-09}}</ref> and is listed as a "broker of military assets" able to deliver various military hardware, such as ships, hand-held weapons, radar systems and armored vehicles, as well as specialized defence related training.<ref name="EU register">{{Cite web|url=http://ec.europa.eu/transparencyregister/public/consultation/displaylobbyist.do?id=437804226419-02&isListLobbyistView=true&locale=en#en|title=Profile of registrant - Defence Unlimited International Corp.|website=EU Transparency Register}}</ref> |
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== Personal life == |
== Personal life == |
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As Ernest Anderson, Banayoti was previously married. |
As Ernest Anderson, Banayoti was previously married. |
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In January 2016, Banayoti married Princess [[Princess Aisha bint Hussein|Aisha Bint Al Hussein]]. |
In January 2016, Banayoti married Princess [[Princess Aisha bint Hussein|Aisha Bint Al Hussein]].<ref>{{Cite news|url=https://www.arabiaweddings.com/news/princess-aisha-bint-al-hussein-gets-married|title=Princess Aisha Bint Al Hussein Gets Married|date=2016-01-29|work=Arabia Weddings|access-date=2017-11-30}}</ref> When he converted to Islam, he took the Muslim name Ashraf Banayoti, but goes by his legal name, Edward Banayoti. The couple divorced in [[Jordan]] in July 2016.<ref>{{Cite news|url=http://www.jordantimes.com/news/local/princess-aisha-edward-banayoti-divorced|title=Princess Aisha, Edward Banayoti divorced|date=2016-07-01|work=Jordan Times|access-date=2017-11-30}}</ref> |
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== References == |
== References == |
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Revision as of 13:50, 6 June 2020
Edward Banayoti | |
|---|---|
 | |
| Born | Egypt |
| Nationality | Canadian |
| Other names | Ernest Anderson Ernie Anderson Ashraf Banayoti |
| Alma mater | University of Toronto[citation needed] York University[citation needed] |
| Occupation | Founder of Defence Unlimited International |
| Spouse | [1] |
Edward Sawiris Banayoti, formerly known as Ernest (Ernie) Anderson and also known as Ashraf Banayoti, is a businessman of Egyptian origin based in Canada. He is the founder of arms brokerage company Defence Unlimited in Malta.
He has variously been reported, and has said to be, active in financial investments, real-estate, commercial aviation, and lobbying.[2]
Career
After graduating from the University of Toronto with an accounting degree and finishing schooling at York University in Ontario, Banayoti began his business career in the real estate and hotels sector. He has since established the Silent Circle Corporation in Canada, a sales agent for encrypted phones (black phones), among other global business ventures.
In 1990, Banayoti founded a defense company Defence Unlimited. The company is registered as an organisation on the EU list of lobbies as of 2017 and is listed as a "broker of military assets" able to deliver various military hardware, such as ships, hand-held weapons, radar systems and armored vehicles, as well as specialized defence related training.
Banayoti now serves as the executive chairman of Defense Unlimited. He also maintains CEO roles with Cornerstone Holdings Corp, the Canadian Association of Political Consultants (CAPC)[3], the Canadian Defence Export Control, and the League of Lobbyists & Advocacy Professionals in the United Kingdom. He is a member of the Canadian Center for Ethics and Corporate Policy, and served as co-chairman on the international board of the International Centre for Democratic Transition (ICDT)[4] based in Budapest, Hungary.
Personal life
As Ernest Anderson, Banayoti was previously married.
In January 2016, Banayoti married Princess Aisha Bint Al Hussein.[5] When he converted to Islam, he took the Muslim name Ashraf Banayoti, but goes by his legal name, Edward Banayoti. The couple divorced in Jordan in July 2016.[6]
References
- ^ "Reigning Royal Families: Jordan". World Who's Who. Routledge. Retrieved 17 November 2019.
- ^ "Canadian Business Awards 2019". www.cv-magazine.com. Retrieved 2020-06-06.
- ^ "Federal Corporation Information - 774690-3 - Online Filing Centre - Corporations Canada - Corporations - Innovation, Science and Economic Development Canada". www.ic.gc.ca. Retrieved 2020-06-06.
- ^ "ICDT :Supporting Hungarian decision-making to be able to deal with the upcoming political, social and security related challenges independently from political parties". icdt.world. Retrieved 2020-06-06.
- ^ "Princess Aisha Bint Al Hussein Gets Married". Arabia Weddings. 2016-01-29. Retrieved 2017-11-30.
- ^ "Princess Aisha, Edward Banayoti divorced". Jordan Times. 2016-07-01. Retrieved 2017-11-30.