August 26, 2010

"The Serious Fraud Office has laid more than 100 charges against four former directors of failed lender Five Star Finance, carrying a maximum penalty of seven years apiece.

The charges relate to loans worth some $50 million, a large proportion of which the SFO says is irrecoverable, and concern related party lending between 2003 and 2007. The white collar crime investigator alleges the defendants intentionally applied funds in breach of the company's obligation under its trust deed, and dishonestly used documents to obtain a benefit."

Excellent, super, smashing, great.... so when do they repay the money?....(Bursts out in fake laughter)...Oh god, I crack myself up! Of course they won't pay any money, silly billy..... this is the new 'White Collar" guaranteed retirement fund. Spend a wee time behind bars and then come on out and enjoy your takings...

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