26 Feb 2004
Tory ads target PMs Barbados holdings
but foreign company linked to Stronachs
By BRUCE CHEADLE - Toronto Star
OTTAWA (CP) - Conservative ads that target Prime Minister Paul Martin's tax-sheltered family holdings in Barbados might be a little uncomfortable for supporters of Tory leadership hopeful Belinda Stronach.
That's because an online gambling outfit registered in St. Michael, Barbados, is linked to the Stronach clan, documents show. Futuristic Entertainment Holdings Inc. was owned by Magna Entertainment Corp., but its current status is unclear. Magna founder Frank Stronach - Belinda Stronach's dad - and his son Andrew had a public falling out two years ago over ownership of betting software being developed through the company.
Inquiries about Futuristic's current ownership were directed to the office of Andrew Stronach at Magna International, but a spokeswoman there refused to respond.
"It's a private company," she said, promising further information that did not come Thursday.
The Barbados revelation came as the Conservatives revealed a series of five, hard-hitting radio spots that are to begin airing Monday.
One of the ads features a Barbadian caricature lauding the Caribbean island's two per cent corporate tax rate.
"Your prime minister Mr. Paul figured it out long time ago, man," says a voice, in reference to CSL International, the Martin-family shipping business registered in Barbados and now run by Martin's sons.
The ad ends with a woman asking: "If Paul Martin is leading by example, what exactly is he trying to tell us?"
Belinda Stronach's campaign denounced the radio spots Wednesday, calling them amateurish, clumsy and likely to bring ridicule on the Conservative party.
A campaign spokesman refused comment Thursday on the new Barbadian connection, referring all inquiries to Magna International.
The Tory campaign elicited a sharp Liberal riposte in the House of Commons.
Jean Augustine, secretary of state for multiculturalism, said the "the new Conservative ads reinforce racial stereotypes and are unacceptable in a modern, multicultural society."
Conservative MP Rahim Jaffer later responded that the Barbados ad doesn't reflect poorly on any ethnic community and the Liberals shouldn't spin it that way.
"What we're focusing on is the hypocrisy of the prime minister in trying to look for these tax havens. And that's clearly what the ad's talking about."
Futuristic Entertainment Holdings Inc., has applied in Canada to register the Hotwalkers Racing and Gaming trademark for use on a wide range of items, from parimutuel wagering software and held-held computers, to clothing, cheque-book holders, coin purses and horse tack and accessories.
The trademark is for use in Canada.
Futuristic's ownership was listed in one trademark application as Magna Entertainment Corp. and Andrew M. Stronach.
But a similarly named company, Futuristic Entertainment Inc., is also included in the trademark applications, with an address of 14875 Bayview Ave., Aurora, Ont. That's the same address listed on Belinda Stronach's short-lived enterprise in 1999 seeking a trademark for "a fashion television program featuring trends and styles in fashion and lifestyle."