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Though the woman has told the police about the alleged fraud her brother committed with Peel holdings nothing has bee done.

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Little objective analysis has been undertaken to establish the added public value of those historic investments".

"In short" it explains - actually faced up the then Government Business Secretary Peter Mandelson about the revolving door between the North West Development Agency and Peel Holdings that led to huge public grants for Media City UK (see here).

An independent Merseyside think tank, Ex Urbe, has produced an expose of over 200 pages which pulls no punches.

The report concludes, amongst other things "It is hardly surprising that there is a perception Peel has local governance if not local authorities themselves in its pocket" Ex Urbe's researchers attempted to map Peel's companies but found "The lines of governance at Peel of responsibility and accountability - are nigh on impossible for the lay observer to trace" it adds "We attempted to map out the relationships between the Peel parent and subsidiary or satellite companies but gave up when we could physically fit no more information on the page.

Over just two months of last year, Salford City Council handed three different Peel Holdings companies almost 2million of public money.

Yet those companies, ultimately controlled offshore, have no accountability.

after reading the report, the question is why was it even written.

This company has created masses of infrastructure across the north,created swathes of jobs and plenty of homes.

Only corporate, legal and financial experts could begin to make sense of the whole." What the report did manage to decipher is that all Peel's companies, including Tokenhouse Investments (Guernsey) Limited and Peel Ports Holdings (Ci) Limited, which is based in the Cayman Islands, lead to Tokenhouse Limited, registered in the Isle of Man John Whittaker.

While Peel has reported assets of 18billion, the report questions the conglomerate's financial stability "It is nigh on impossible to establish Peel's overall 'worth' or to make any meaningful sense of the way in which it operates financially" it states "That Peel holds valuable assets is a matter of public record.

"Given all this, there is little doubt that The Peel Group - a privately owned and privately run concern with an off-shore power base - enjoys unprecedented levels of power and influence across the sub-region generally and in Liverpool, the 'core city', in particular" it adds "" And the report goes even further "By using its vast wealth, actual or perceived, to wield power and influence and by focusing upon key regeneration and infrastructure projects in often deprived areas - But do the schemes actually benefit anyone apart from Peel itself? The Salford Star recommends that everyone should read this Ex Urbe report click here or go to its website and click on Publications, then the report The people of Liverpool are watching Member of Parliament, Bill Esterson, canvas rigourously for Peel, as they pursue their latest objective, public money to fund the west east train track.