The company, which is currently locked in a debt dispute with Denis Brosnan, has doubled down on its allegations that the former Kerry Group CEO was trying to avoid paying taxes, citing four secret recordings of his former son-in-law.
Futures Group recently filed a response to Brosnan’s counterclaims in the US court case it brought against the Irish businessman in 2021.
The case relates to “significant disagreements” over the repayment of loans Brosnan made to his ex-son-in-law Geoff Cramer and his company Futures, as well as ownership of shares in the company.
Futures’ response also includes claims that Brosnan’s claims about “phantom stocks” are intended to cover up a “tax evasion scheme.” It said it submitted four records to support it.
Brosnan has denied the allegation. According to an affidavit, Cramer said he recorded alleged conversations with Brosnan on his cell phone. The alleged conversations were taped over a three-year period beginning in 2017.
Brosnan claims in court documents that these conversations were “secretly recorded” by his ex-son-in-law.
“Denis Brosnan firmly rejects the unfounded tax allegations”
The recordings are part of the series, with Brosnan filing protective orders against some of them that will be included in the case. He said talks between Cramer and Brosnan’s daughter Aimee were protected by marital privilege.
Aimee, who split from Cramer in 2020, is not involved in this case. Last year, Cramer and Futures attempted to use the recordings and alleged transcripts to avoid charging Brosnan legal fees.
However, last month the US judge ruled in Brosnan’s favor in the case, ruling that he was entitled to an upfront indemnity from Futures. She did not find on the tax claims. “This time Futures is putting the proverbial cart before the horse,” the judge wrote. “Brosnan has not admitted to wrongdoing, and at this time no fact finder has determined that he was responsible.”
In response to the allegations, Brosnan’s attorneys wrote that Futures “attempted to evade his legal and moral obligations” by making him a villain and Cramer a victim.
Brosnan firmly denied Cramer and Futures’ allegations, calling them “categorically false.”
Cramer and Futures’ 2021 lawsuit seeks a court finding that Brosnan does not have the right to recover the requested funds and interest in Futures Brosnan.
They sued Brosnan for alleged breaches of his duties as a director, including an allegation that company records were falsified to inaccurately reflect certain debts.
They claimed that stock documents were “fake” and claimed this caused Brosnan to avoid €400,000 in taxes.
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The court case has been running since 2021. Photo: Getty Images
The court case has been running since 2021. Photo: Getty Images
Brosnan filed his responses and counterclaims in December 2021, in which he denied the allegations.
A spokesman for Brosnan said: “As has been stated in previous communications, Denis Brosnan strongly denies the baseless allegations regarding tax and other matters made by Cramer in connection with the US legal proceedings and as reported in the Sunday independent.
“He has challenged this in the strongest possible terms in affidavits filed on behalf of Brosnan in this proceeding.
“Brosnan continues to believe that now that these matters are being heard in court, this proceeding remains the only appropriate forum to fully defend his position and ensure that his rights and reputation are fully defended.”
The courtroom dispute has been ongoing since 2021. It followed the beginning of the divorce proceedings between Cramer and Brosnan’s daughter
https://www.independent.ie/business/irish/secret-tapes-at-centre-of-firms-bitter-us-row-with-ex-kerry-group-ceo-denis-brosnan-42326135.html “Secret tapes” at the center of the company’s bitter US dispute with ex-CEO of Kerry Group Denis Brosnan
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