Top political donors, a Labour lord and Scottish football hero Ally McCoist have been among secret owners of a tax haven firm behind an elite Scottish golf club, The Ferret can reveal.
The 660-acre private Loch Lomond Golf Club hosted the Scottish Open and boasts a Georgian mansion, a spa within a historic walled garden, and dramatic lochside views to Ben Lomond.
But the club is open only to members who can join on a strict invite-only policy, and the entry fees - estimated at well over £100,000 today - mean the luxury is open only to a wealthy few.
As the club is ultimately owned and operated by a firm incorporated in the Cayman Islands, the names of its true owners are allowed to stay hidden due to secrecy provisions in the Caribbean tax haven.
But the once-secret shareholders of years past are named in leaked documents. They include Scottish Labour and the Scottish Liberal Democrats' biggest donor ahead of the last general election, Robin MacGeachy, top footballers and senior bankers.
The leaked Paradise Papers files were obtained by the International Consortium of Investigative Journalists and the German newspaper Süddeutsche Zeitung, and shared with The Ferret.
Financial transparency would guarantee that, at a time when the UK is struggling, the Treasury's coffers are as full as possible.
Tom Brake, Unlock Democracy
One 2014 document from an offshore law firm shows that the Cayman entity, Loch Lomond Members Golf Club Limited, received nearly £50m from shareholders, members, and applicant members over just a few years.
There is no suggestion of tax abuse from the company, its shareholders or club members.
But a tax expert said tax avoidance and secrecy were the "two distinctive advantages" allowed by the club's Cayman Islands ownership, with neither "in the public interest for UK taxpayers".
The revelations prompted renewed calls from campaigners for the UK Government to force British overseas territories like the Caymans to introduce a public register of the beneficial owners behind companies incorporated there.
Billionaires, bankers and businessmen
Among the club's more than 500 named shareholders as of 2014 were the millionaire Labour lord and party donor, Baron Willie Haughey, billionaire Perthshire landowner Moshin Mohammed Mahdi Al Tajir, and the late billionaire motor magnate Arnold Clark.
Businessman Robin MacGeachy is a current director of the club. Since 2014, companies owned by MacGeachy - Peak Scientific, Dusty TLP, and Treeman Rockafella - have given nearly £2.7m to the Conservatives, Labour, and the Lib Dems.
The firms were both Scottish Labour and the Scottish Liberal Democrats' biggest donors ahead of the last general election, handing over £700,000 and £710,000 respectively.
Billionaires, lobbyists and a 'dark money' trust': Who funds Scotland's parties?
The contributions represented more than a third of Labour's donations and more than a half of the Lib Dems' in the three years preceding the 2024 general election, according to analysis of donations records by The Ferret.
Among top sportsmen on the shareholder list were footballers Ally McCoist, Ian Wright and Alan Shearer, cricket coach Paul Collingwood, former Manchester United director Roy Gardner, and golfer Gordon Sherry.
Senior bankers were well represented among shareholders. Barclays executives included current president, Stephen Dainton, former director of the bank's investment arm, John Porter, and ex-advisory board member of its wealth management division, Stuart Counsell.
Counsell was also deputy chief executive of Deloitte. Other shareholders linked to the accounting giant were then-vice chair Cahal Dowds, and former partner Donald Campbell.
Martin Gilbert, the former chair of Scottish Golf, current chair of and Revolut, and co-founder and former head of Aberdeen Asset Management, which later merged with Standard Life, also featured.
So too did Fahad Al-Rajaan, who, in 2020, was accused of embezzling around £680m from Kuwait's state pensio...