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Man bought private jet with borrowed council money
(www.bbc.com)
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this post was submitted on 04 Aug 2023
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I don't understand, this is trivial fraud why isn't he in jail right now and all his assets in receivership?
Oh... oh right... Tories.
Good work, enterprising businessman!
"Mr Kavanagh is no longer living in the UK."
... that's a massive fraud, they extradite for that.
Are you honestly saying I can steal the better part of a billion dollars and hop across the border to Mexico without worry? Because if so I have some life choices to rethink.
Again, tories.
In other longer articles you find out that it's nowhere nearly a billion. The Solar Farms used to underpin the investments do exist and are productive. They have value in the hundreds of millions of pounds, but its apparently not quite enough to satisfy all of the bonds when they come do in 2025 and 2026.
What makes you think there was fraud? Lots of these solar farms are not viable and losing money. Counsil for swindled into thinking it was a sure thing and invested in it. Sounds to me more likely the people in Council were not very business savvy but instead invested based on feel good.
Dude is the one who represented them at the higher value for the bonds. That's the definition of fraud.