Edward Banayoti
{{pp-protect|small=yes}}
{{short description|Canadian businessman}}
{{Use British English|date=August 2019}}
{{Use mdy dates|date=July 2020}}
{{Infobox person
| name = Edward Banayoti
| other_names = Ernest Anderson
Ernie Anderson
Ashraf Banayoti
| image = Edward A. Banayoti 2016.jpg
| alt =
| birth_date =
| birth_place = Egypt
| death_place =
| spouse = {{Marriage|Princess Aisha bint Hussein|27 January 2016|1 July 2016|reason=divorced}}{{cite web|title=Reigning Royal Families: Jordan|url=http://www.worldwhoswho.com/public/views/royal_families.html?country=JORDAN|work=World Who's Who|publisher=Routledge|access-date=17 November 2019}}
| nationality = Canadian
| alma_mater = University of Toronto{{cn|date=June 2019}}
York University{{cn|date=June 2019}}
| occupation = Founder of Defence Unlimited International
}}
Edward Sawiris Banayoti, formerly known as Ernest (Ernie) Anderson and Ashraf Banayoti, is a businessman of Egyptian origin based in Canada.{{Cite news|url=https://www.intelligenceonline.com/corporate-intelligence/2018/04/11/arms-dealer-ed-banayoti-partners-with-metocean,108306587-bre|title=Arms dealer Ed Banayoti partners with MetOcean|date=2018-04-11}}
He was the subject of a financial investigation for suspicion of fake mortgage deals through his unlicensed Canadian investment company Golden Gate Funds LP,{{Cite web|url=http://www.maltatoday.com.mt/news/national/94174/defence_consultant_edward_banayoti_sets_up_eu_base_in_malta|title=Defence consultant Edward Banayoti sets up EU base in Malta|website=MaltaToday.com.mt|language=en|access-date=2020-04-06}} and entered into a settlement with the Ontario Securities Commission in 2009, agreeing to pay $4.7-million in financial penalties.
He has variously been reported, and has said to be, active in financial investments, real-estate, commercial aviation, arms dealing and lobbying. His attempt to purchase a substantial stake in Air Malta attracted attention in Malta and from security regulators in Canada.{{Cite news|last=Vella|first=Matthew|date=2019-04-09|title=Defence consultant Edward Banayoti sets up EU base in Malta|url=https://www.maltatoday.com.mt/news/national/94174/defence_consultant_edward_banayoti_sets_up_eu_base_in_malta}}
Career
At the end of 2003, Ernest Anderson registered Golden Gate Funds LP. According to the Ontario Securities Commission (OSC), they opened an investigation in 2005 into Golden Gate Funds which was an unlicensed firm marketing its products to the public.{{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}}
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.{{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}}{{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| access-date=26 June 2019}} As of January 2012, the full amount of the penalties remained unpaid. {{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}}
In 2015, Banayoti changed his name from Ernie Anderson to Edward Banayoti{{Cite web|title="Government Notices — Other: Change of Name Act|url=https://www.ontario.ca/document/ontario-gazette-volume-148-issue-12-march-21-2015/government-notices-other|access-date=2019-06-16|website=www.ontario.ca}} and founded the arms brokerage company Defence Unlimited. The company is registered as an organisation on the EU list of lobbies as of 2017 and is listed as supplying “Security, and Defence Supplies. Lobbying, and Political Consulting. EU military progress and licensing procedures."{{Cite web|title=Profile of registrant - Defence Unlimited International Corp.|url=http://ec.europa.eu/transparencyregister/public/consultation/displaylobbyist.do?id=437804226419-02&isListLobbyistView=true&locale=en#en|website=EU Transparency Register}}
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.{{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}}{{Cite news|last=Vella|first=Matthew|date=2019-04-09|title=Defence consultant Edward Banayoti sets up EU base in Malta|url=https://www.maltatoday.com.mt/news/national/94174/defence_consultant_edward_banayoti_sets_up_eu_base_in_malta}} 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.{{Cite web|url=https://beta.companieshouse.gov.uk/company/10260186/filing-history|title=Banayoti Holdings Limited - Company filing history|website=UK companies house}} 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".{{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}}
Personal life
In 2016, Banayoti married Princess Aisha Bint Al Hussein and divorced her six months later.{{Cite news|url=https://www.intelligenceonline.com/due-diligence/2017/04/05/arms-broker-banayoti-woos-eu,108228883-art|title=CANADA : Arms broker Banayoti woos EU|date=2017-04-05|work=Intelligence Online|access-date=2017-11-30|language=en-US}}{{Cite web|last=|first=|date=2016-07-02|title=Aisha de Jordanie : La princesse divorce, après moins de 6 mois de mariage|url=https://www.purepeople.com/article/aisha-de-jordanie-la-princesse-divorce-apres-moins-de-6-mois-de-mariage_a192705/1|url-status=live|archive-url=https://web.archive.org/web/20160713172057/http://www.purepeople.com/article/aisha-de-jordanie-la-princesse-divorce-apres-moins-de-6-mois-de-mariage_a192705/1 |archive-date=July 13, 2016 |access-date=2020-07-29|website=www.purepeople.com|language=fr}} When he converted to Islam, he took the Muslim first name Ashraf.
References
{{reflist}}
External links
- [http://edwardbanayoti.com Official website]
{{DEFAULTSORT:Banayoti, Edward}}
Category:Canadian businesspeople
Category:Egyptian businesspeople
Category:Egyptian emigrants to Canada