under the eye of government investigators looking into TransTec, the collapsed engineering company founded by former treasury minister Geoffrey Robinson, and implicated a man living in Bermuda.

One of the companies named by the British newspaper is Mezzanine -- which described itself as an investment advice and business services company -- and stated that the company: " referred inquiries to company secretary Roderick Brooks, a British subject living in Hamilton, Bermuda.'' The newspaper said that the holder of the third largest single block of shares in TransTec is a string of companies based variously in Amsterdam, London and Switzerland.

It stated: "Various offshore interests were earlier this week reported to have been brought within the ever-widening net of the two department of trade and industry inspectors appointed last week. They are thought to be looking at both Mr Robinson's own trust fund in the Channel Islands and other non-UK shareholders unconnected with the former paymaster general.'' After Mr. Robinson -- who has a 16.1 percent stake -- the insolvent group ranks $1 billion Boston hedge fund Baupost as its second-largest shareholder, with 10 percent.

The third largest, with 6.19 percent, is Ducroire SL, a company whose ultimate owner -- as disclosed to the London Stock Exchange -- is First Britannia Mezzanine Capital NV, of Amsterdam. First Britannia's Dutch office referred all queries to the office in London of Mezzanine Management Ltd (UK), based in the Strand who referred inquiries to Bermuda.

"Mr Brooks is a director of Marigot Investments, which owns 50 percent of Mezzanine. Marigot gives its address as care of Mezzanine in London, and is 98 percent owned by Romande Nominees, of Switzerland.''