Human rights charity War on Want has hit out at reports that British mercenary firm Aegis has relocated its headquarters to Switzerland, allegedly to avoid paying tax.
Aegis Defence Services Ltd, one of the world's largest private security firms with a controversial history of alleged human rights abuses in Afghanistan and Iraq, has set up a holding company in the Swiss city of Basle.
Aegis, which was founded by retired lieutenant colonel Tim Spicer in 2002, was awarded one of the largest security contracts for Iraq by the US, valued at more than $430 million (£275m).
The firm continues to operate in Iraq and Afghanistan and posted a net profit of £10.1m last year.
In a statement the firm confirmed the move but said that "no business activities will be conducted in or from Switzerland."
Aegis claimed the relocation was motivated by Switzerland's "geographic location, accounting transparency and stable system of taxation."
Local Swiss paper Basler Zeitung said it had seen documents showing that the firm's owners, including Mr Spicer, have swapped their shares for stakes in the Swiss-based holding company.
Both Spicer and Aegis Defence Systems have a chequered history. In 1992 two members of the Scots Guards under the command of Lt Col Spicer shot and killed Belfast teenager Peter McBride.
Mr McBride was unarmed and shot in the back. The version of events given by Spicer at the subsequent trial was described by the judge as "a concoction of lies."
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