On Thursday, Nov 10 2011, KLIF Radio570, in Dallas, ran a segment by radio personality Ed Wallace called "A Moment in Rock & Roll History." The gist of the segment was that The Beatles received their MBEs in a deal with the British government to cover up tax fraud by Brian Epstein. Although I have an MP3 (provided to me by KLIF upon my request) of the broadcast, I can't figure out how to upload it to the forum. So instead, here is an exact transcript of the broadcast (emphasis is mine)...
A Moment in Rock & Roll History
Aired: Nov 10, 2011, 7:55am, KLIF 570 Dallas, Texas
Broadcast Length: 90 seconds
00:00 - (intro tone)
00:01 - (Announcer)
A Moment in Rock & Roll History is brought to you by John Eagle Honda, and Kwik Kar Oil & Lube Centers. And now Ed Wallace...
00:09 - (cue music - Help! by The Beatles)
00:21.5 - (talkover music volume)
00:22 - (Ed Wallace)
1965 and The Beatles were on a roll. Album sales were phenomenal, their first movie a hit, and The Beatles were making virtually nothing. British taxes were 92% at the time. Brian Epstein decided the boys should become tax cheats.
And during the filming of Help!
in the Bahamas, he opened off-shore accounts for The Beatles movie and American tour income.
But Epstein became paranoid that somehow they would get caught, and be exposed for the tax deception. He called Inland Revenue, and he offered to come clean, but only if no charges were brought against The Beatles, and the Queen should give them some type of recognition.
The British government agreed to the deal to get the cash. The money left the Bahamas, the government took 92%, the Queen gave The Beatles the title of "Members of the British Empire." All for cheating on their taxes.
And with that, I'm Ed Wallace.
01:22 - (Announcer)
A Moment in Rock & Roll History was brought to you by John Eagle Honda, and Kwik Kar Oil & Lube Centers.
01:29 - (fade music)
01:30 - (out)
What can't be conveyed in this transcript is the offensive snide tone in Mr Wallace's voice during the segment.
It was clear that Mr Wallace was referring to the completely legal attempt to create a tax-shelter, Cavalcade Productions, for The Beatles, as revealed in Peter Brown's book The Love You Make
. Here's a link to the book's excerpt on Google Books ... http://books.google.com/books?id=tVht7mPxbeAC&pg=PT153
Compare Peter Brown's "Beatle Insider" account to the historical-revisionist spin Mr Wallace puts on this story, and I think you will be as stunned as I was. Mr Wallace, who is an ex-automobile salesman turned car-expert radio personality, literally implicates The Beatles, Brian Epstein, UK Inland Revenue, the British government, and the British monarchy in a tax fraud scheme coverup "deal" in less than 1-1/2 minutes.
I have an above average knowledge of all things Beatles, but I have never heard of ANY association between the attempted tax-shelter and The Beatles' MBEs. I did email Mr Wallace, asking for the source of his version of the story, but received nothing more than a smug, condescending reply attacking my Beatle knowledge.
Have any of you EVER
heard a version of the Cavalcade Productions story that even comes close to what Mr Wallace has publicly broadcasted?