British billionaire Richard Branson severely damaged Virgin Group's reputation by residing in a tax haven while UK-based airline Virgin Atlantic sought a government bailout during the pandemic, according to internal Virgin emails cited in a $250 million London lawsuit on Monday.
The emails were cited by lawyers for U.S. train operator Brightline, which is being sued by the Virgin Group after cancelling a deal to use the Virgin brand in 2020, just over 18 months after it was signed.Brightline says it cancelled the deal because the Virgin brand had been hit by negative press coverage of Branson's 2020 claim that Virgin Atlantic would need a bailout from the British government to survive the pandemic.
In an April 2020 email, Virgin Group CEO Josh Bayliss referred to Branson's tax residency in relation to the request for a bailout, saying: "Richard cannot escape the criticism. The truth is he has paid as little tax as possible".
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