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Sean Quinn - A man more sinned against than sinning?
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i definetly think so. He got fooled by sean fitzpatrick and his cronies along with a lot of the population including the clowns supposedly running the country into buying into the celtic tiger crap.
The debts of anglo were then nationalised in very dubious circumstances thus transfering the debts on to the irish people this is not quinns fault.
He started out with a truck and a sand pit and became the richest man in the country why not give him some time and let him work his way out of debt.
But no lets take his business and give it to some yanks and pay them to do this
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I've just watched on the news that Sean Quinn's son has been sent to prison for contempt of Court.
In 2008 Sean Quinn was trying his best to buy over the fraudulent Anglo Irish Bank. At the time, he believed that this bank was a sound investment and that he should purchase shares in the bank. No doubt he believed all the hype about this wonder bank and thought that buying it over would be the jewel in a glittering business career.
Meanwhile Seanie Fitz & Co. were inside cooking the books and swapping money with Permanent TSB trying to make the bank look solvent...when as we know it was far from it.
Sean Quinn was bankrupted by Anglo management's fraudulent behaviour.
Am I the only one who wonders why Sean Quinn is being hauled through the courts and nothing has happened ANY of the bankers who mislead him into investing in the bank?
Yes, he shouldn't have gambled all his wealth on it....but at the end of the day, he was sold a pup, which bankrupted him.
I feel sympathy for the man.
I also find it deeply suspicious that Quinn insurance was found to fail solvency rules as soon as the government needed cash and generously intervened to take over this cash cow and "protect consumers"
Is this just a state sponsored witch hunt of arguably our greatest Entrepreneur?
Fingelton and Seannie Fitz also feel hard done by. these people have a complete lack of morals and standards and genuinely believed they have done nothing wrong.0 -
Fingelton and Seannie Fitz also feel hard done by. these people have a complete lack of morals and standards and genuinely believed they have done nothing wrong.
Didn't Fingers look after Hulk Hogan with his interest only mortgages and wasn't Seanie a golf buddy of Cowan's and a pub-singing partner of Bertie. Why would they think otherwise. Fingers also held onto his million that he promised to return.
Lack of morals and standards are endemic in both politics and banking.0 -
The british media are now focusing on the other side of the story. More articles like this will appear over the coming weeks as people begin to question what really happened.
'They wanted to get rid of us. It was a carve-up': Seán Quinn accuses the Financial Regulator of being out to get him
Matthew Elderfield was made Financial Regulator in October 2009.
The Quinn Group presented Mr Elderfield and the late Finance Minister Brian Lenihan with a seven-year plan to repay Anglo Irish Bank.
But on March 30, 2010, following an application by the regulator, the High Court appointed joint provisional administrators to Quinn Insurance Ltd, including Michael McAteer of Grant Thornton.
Anglo also appointed KPMG as share receiver, and corporate troubleshooter Murdoch McKillop was made an interim executive director of Quinn Group in 2010.
The authorities insist they acted because Quinn Insurance persistently breached solvency rules. Séan Quin disagrees... and alleges Mr Elderfield was part of an international plot to oust him.
‘[Matthew] Elderfield came in and we come to what happened on March 30, 2010. He wanted rid of us. We weren’t popular with his friends in the FSA in the UK.
‘In 2009 we increased the cash in Quinn Direct as we had in 2008. We increased the cash in it in 2010. The outstanding claims were €20m in March 2010 but Quinn Direct had more business in the UK than in Ireland.
‘In 2010 or December 2009, [administrator] Michael McAteer came in and he was receiving lots of complaints from his colleagues in the UK, Quinn Direct was too competitive.
‘They took security on a regulated entity. Nobody can take security on a regulated entity.
‘We were a big threat, we’d started taking a lot of business in the UK. We were very competitive. We were seen as too big a threat.
‘The Government was vulnerable by then. The Taoiseach of the day was wounded. We were below his [Elderfield’s] recommended solvency. They had taken €200m off the value of our assets.
‘We had €1.1bn in cash. It was a major problem, we imported people from three continents – one from Australia, one from America, one from UK, all over the place.
‘One was a Scottish man [restructuring consultant Murdoch McKillop] that wouldn’t be a big GAA fan. He’d probably be a Rangers fan.
‘We were a highly profitable company, the regulator was wrong. Which was right? Which was right, was there a lack of solvency? McAteer was wrong.
‘The administrator came in. In 2009 there wasn’t any shortage of cash, though property assets had been reduced by €200m. Never came across.
‘A bank owned by the Government sent a receiver into Derrylin. Where they took security in a regulated entity, you can’t do that.
‘The attitude was get them out. The whole thing was a carve-up. They couldn’t accept the Quinn proposal.’
Does he believe that Matthew Elderfield was involved in a ‘carve-up?’
‘They said put your prices up. With the potential liability, if they were genuinely worried about it what they could have done was put some consultant into Quinn Direct.He didn’t do that, he [Elderfield] chose to go ex parte, and going ex parte is a bit below the belt.
‘In Naas six months ago he put a manager into Naas Credit Union. He had learned from his Quinn mistake. He didn’t appoint a receiver. In six weeks at Quinn Group he would have seen what sensible men could do.
‘We had €500m in property, which had been reduced from €700m and €1.1bn in cash.
‘We had put forward an acceptable plan. But they wanted rid of us. They got a whiff that they could do that on the Thursday or Friday of that week and they said that they were going to put us in administration, and they were not deferring it.
‘First of all, we said we were not going to walk away from that.
‘He was doing it ex parte on Tuesday morning at 10.00.
‘He would not work with Quinn. There was an agenda. We’d cash reserves, the highest reserves of any company in Europe, €1.1bn in cash and €500million in property.
‘We’d had the best quarters we’d ever had in Quinn Direct. We’d a phenomenal quarter, the best quarter we ever had despite settling claims.
‘My theory is they couldn’t get anybody into Quinn Direct. We were phenomenally profitable and if they came with an intention of getting rid of us then he had a chance to not long after.
‘We had a recovery plan…
‘They were saying Quinns had a name for being very tight..
‘We said whatever is in doubt we’ll pay it. If we’re seen as being the bad boys we’ll pay out. There’s not much I don’t know.
‘They didn’t agree with our argument that we could repay enough. There were blockages in the system, they didn’t want us back.
‘We were intent on paying back the money, it was never a problem for us.
‘We never missed a payment, I had never missed a payment
on anything, never missed a cheque. We were paying back money, they didn’t want Seán Quinn back in the insurance business. We had €30m in spare cash, yet they wanted to put us into receivership.
‘I’m a hard-nosed businessman, that if a company is paying its way, increasing profits for thirty-odd consecutive years, you don’t put it into receivership. We were way ahead of everybody else in the industry…we were in profit.
‘There were weaknesses in the system. When things went wallop they brought in strangers from three continents to run the banks, to run the regulation, to run the country.
‘We presented them with a plan. Our five kids and family would have worked seven years for nothing and take nothing from the company and pay those debts.
‘And there was absolutely zero risk to them if we were allowed to do that. We made that very clear.
‘That was put to Elderfield but I never heard what he said.
‘Some consultants were earning €1,000 an hour, which was rich pickings. Murdoch McKillop was one of them. They came in and were told the administrators would be out in six months and now we’re going on 27 months and they’re still there.
‘They must have thought all their Christmases came at once. They’ve earned €400m. They are scavengers.
‘The May/June 2010 period saw the destruction of the Quinn Group. I don’t want to say too much but they were ridiculing...talking the company down. There were 1,400 export jobs, 2,800 staff.
‘We had paid €1bn in taxes in ten years. At one point you could drive from Donegal to Wicklow and there were Quinn operations. In Donegal, Cavan, Navan, Blanchardstown, Balbriggan away to Wicklow. Now there were going to be job losses and much less competition.
WHAT THE 'ACCUSED' SAY IN REPLY
Alan Dukes, chairman of Irish Bank Resolution Corporation, formerly known as Anglo Irish Bank: ‘The Bank will decline to comment on the specific matters you highlighted in your interview with Mr Sean Quinn.’
Central Bank response: ‘The Central Bank identified serious and persistent breaches of the solvency requirements of Quinn Insurance, which the management and shareholder did not remedy.’
Michael McAteer, who was appointed as an administrator to Quinn Insurance: ‘I do not want to get into a public slanging match.’
Murdoch McKillop, financial restructuring advisor to the Quinn Group: ‘I was appointed as an independent executive director.’ Brian Cowen: ‘He does not want to comment.’
‘Anglo backed the Quinn deal but Elderfield wouldn’t agree to it and they had Liberty lined up. They knew if they didn’t take us we were going to sue them.
‘The world and crow knows that a company cannot buy its own shares. How could they come in and take our company into Northern Ireland, which is supposedly a foreign country, in military style I don’t know.
‘I’d be interested to hear their story about that.
‘There was a thirty-odd billion euro group, one of the most profitable groups in the history of the state. One of the most successful companies. It was stupidity, to save face.
‘Elderfield wants my head. I am seen as a loose cannon.
‘Murdoch McKillop seems to have gained a successful conclusion. It’s a small issue but it shows outside influence, we are big GAA supporters and followers. It is recognised and apparent.
‘Yet they cancelled the sponsorship of the Fermanagh championship, which was €2,000 or €3,000, yet they were happy to run with the Late, Late Show [advertisements].
‘They would have known we had the support of the local community. They kicked out my suppliers.’
http://www.dailymail.co.uk/news/article-2177127/Se-n-Quinn-accuses-Financial-Regulator-Matthew-Elderfield-him.htm0 -
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Sean Quinn is a chancer, conman and scam artist.an offshore entity wrote: »The british media are now focusing on the other side of the story. More articles like this will appear over the coming weeks as people begin to question what really happened.
'They wanted to get rid of us. It was a carve-up': Seán Quinn accuses the Financial Regulator of being out to get him
Matthew Elderfield was made Financial Regulator in October 2009.
The Quinn Group presented Mr Elderfield and the late Finance Minister Brian Lenihan with a seven-year plan to repay Anglo Irish Bank.
But on March 30, 2010, following an application by the regulator, the High Court appointed joint provisional administrators to Quinn Insurance Ltd, including Michael McAteer of Grant Thornton.
Anglo also appointed KPMG as share receiver, and corporate troubleshooter Murdoch McKillop was made an interim executive director of Quinn Group in 2010.
The authorities insist they acted because Quinn Insurance persistently breached solvency rules. Séan Quin disagrees... and alleges Mr Elderfield was part of an international plot to oust him.
‘[Matthew] Elderfield came in and we come to what happened on March 30, 2010. He wanted rid of us. We weren’t popular with his friends in the FSA in the UK.
‘In 2009 we increased the cash in Quinn Direct as we had in 2008. We increased the cash in it in 2010. The outstanding claims were €20m in March 2010 but Quinn Direct had more business in the UK than in Ireland.
‘In 2010 or December 2009, [administrator] Michael McAteer came in and he was receiving lots of complaints from his colleagues in the UK, Quinn Direct was too competitive.
‘They took security on a regulated entity. Nobody can take security on a regulated entity.
‘We were a big threat, we’d started taking a lot of business in the UK. We were very competitive. We were seen as too big a threat.
‘The Government was vulnerable by then. The Taoiseach of the day was wounded. We were below his [Elderfield’s] recommended solvency. They had taken €200m off the value of our assets.
‘We had €1.1bn in cash. It was a major problem, we imported people from three continents – one from Australia, one from America, one from UK, all over the place.
‘One was a Scottish man [restructuring consultant Murdoch McKillop] that wouldn’t be a big GAA fan. He’d probably be a Rangers fan.
‘We were a highly profitable company, the regulator was wrong. Which was right? Which was right, was there a lack of solvency? McAteer was wrong.
‘The administrator came in. In 2009 there wasn’t any shortage of cash, though property assets had been reduced by €200m. Never came across.
‘A bank owned by the Government sent a receiver into Derrylin. Where they took security in a regulated entity, you can’t do that.
‘The attitude was get them out. The whole thing was a carve-up. They couldn’t accept the Quinn proposal.’
Does he believe that Matthew Elderfield was involved in a ‘carve-up?’
‘They said put your prices up. With the potential liability, if they were genuinely worried about it what they could have done was put some consultant into Quinn Direct.He didn’t do that, he [Elderfield] chose to go ex parte, and going ex parte is a bit below the belt.
‘In Naas six months ago he put a manager into Naas Credit Union. He had learned from his Quinn mistake. He didn’t appoint a receiver. In six weeks at Quinn Group he would have seen what sensible men could do.
‘We had €500m in property, which had been reduced from €700m and €1.1bn in cash.
‘We had put forward an acceptable plan. But they wanted rid of us. They got a whiff that they could do that on the Thursday or Friday of that week and they said that they were going to put us in administration, and they were not deferring it.
‘First of all, we said we were not going to walk away from that.
‘He was doing it ex parte on Tuesday morning at 10.00.
‘He would not work with Quinn. There was an agenda. We’d cash reserves, the highest reserves of any company in Europe, €1.1bn in cash and €500million in property.
‘We’d had the best quarters we’d ever had in Quinn Direct. We’d a phenomenal quarter, the best quarter we ever had despite settling claims.
‘My theory is they couldn’t get anybody into Quinn Direct. We were phenomenally profitable and if they came with an intention of getting rid of us then he had a chance to not long after.
‘We had a recovery plan…
‘They were saying Quinns had a name for being very tight..
‘We said whatever is in doubt we’ll pay it. If we’re seen as being the bad boys we’ll pay out. There’s not much I don’t know.
‘They didn’t agree with our argument that we could repay enough. There were blockages in the system, they didn’t want us back.
‘We were intent on paying back the money, it was never a problem for us.
‘We never missed a payment, I had never missed a payment
on anything, never missed a cheque. We were paying back money, they didn’t want Seán Quinn back in the insurance business. We had €30m in spare cash, yet they wanted to put us into receivership.
‘I’m a hard-nosed businessman, that if a company is paying its way, increasing profits for thirty-odd consecutive years, you don’t put it into receivership. We were way ahead of everybody else in the industry…we were in profit.
‘There were weaknesses in the system. When things went wallop they brought in strangers from three continents to run the banks, to run the regulation, to run the country.
‘We presented them with a plan. Our five kids and family would have worked seven years for nothing and take nothing from the company and pay those debts.
‘And there was absolutely zero risk to them if we were allowed to do that. We made that very clear.
‘That was put to Elderfield but I never heard what he said.
‘Some consultants were earning €1,000 an hour, which was rich pickings. Murdoch McKillop was one of them. They came in and were told the administrators would be out in six months and now we’re going on 27 months and they’re still there.
‘They must have thought all their Christmases came at once. They’ve earned €400m. They are scavengers.
‘The May/June 2010 period saw the destruction of the Quinn Group. I don’t want to say too much but they were ridiculing...talking the company down. There were 1,400 export jobs, 2,800 staff.
‘We had paid €1bn in taxes in ten years. At one point you could drive from Donegal to Wicklow and there were Quinn operations. In Donegal, Cavan, Navan, Blanchardstown, Balbriggan away to Wicklow. Now there were going to be job losses and much less competition.
WHAT THE 'ACCUSED' SAY IN REPLY
Alan Dukes, chairman of Irish Bank Resolution Corporation, formerly known as Anglo Irish Bank: ‘The Bank will decline to comment on the specific matters you highlighted in your interview with Mr Sean Quinn.’
Central Bank response: ‘The Central Bank identified serious and persistent breaches of the solvency requirements of Quinn Insurance, which the management and shareholder did not remedy.’
Michael McAteer, who was appointed as an administrator to Quinn Insurance: ‘I do not want to get into a public slanging match.’
Murdoch McKillop, financial restructuring advisor to the Quinn Group: ‘I was appointed as an independent executive director.’ Brian Cowen: ‘He does not want to comment.’
‘Anglo backed the Quinn deal but Elderfield wouldn’t agree to it and they had Liberty lined up. They knew if they didn’t take us we were going to sue them.
‘The world and crow knows that a company cannot buy its own shares. How could they come in and take our company into Northern Ireland, which is supposedly a foreign country, in military style I don’t know.
‘I’d be interested to hear their story about that.
‘There was a thirty-odd billion euro group, one of the most profitable groups in the history of the state. One of the most successful companies. It was stupidity, to save face.
‘Elderfield wants my head. I am seen as a loose cannon.
‘Murdoch McKillop seems to have gained a successful conclusion. It’s a small issue but it shows outside influence, we are big GAA supporters and followers. It is recognised and apparent.
‘Yet they cancelled the sponsorship of the Fermanagh championship, which was €2,000 or €3,000, yet they were happy to run with the Late, Late Show [advertisements].
‘They would have known we had the support of the local community. They kicked out my suppliers.’
http://www.dailymail.co.uk/news/article-2177127/Se-n-Quinn-accuses-Financial-Regulator-Matthew-Elderfield-him.htm
Sooner he is locked up the better.0 -
'Sean Quinn is a chancer, conman and scam artist. Sooner he is locked up the better.'
Thanks for the contribution to the board.
Not sure about the validity of your comments or what you based them on. A common trait of an Entrepreneur's is being a risk taker. I will interpret 'chancer' as being someone who takes risks. I agree with you on this one based on the high level of risk attributed to Contract for Difference (CFD) dealing in Anglo Irish Bank shares.
The other two points 'conman' and 'scam artist' I am not fimilar with. This maybe a personal opinion, which is still free speech and welcomed. What is your thoughts on the failure of Anglo Irish Bank? Who is responsible for this?0 -
I would refer you to the Judgement given on this man and his family by Ms.Justice Dunne.an offshore entity wrote: »'Sean Quinn is a chancer, conman and scam artist. Sooner he is locked up the better.'
Thanks for the contribution to the board.
Not sure about the validity of your comments or what you based them on. A common trait of an Entrepreneur's is being a risk taker. I will interpret 'chancer' as being someone who takes risks. I agree with you on this one based on the high level of risk attributed to Contract for Difference (CFD) dealing in Anglo Irish Bank shares.
The other two points 'conman' and 'scam artist' I am not fimilar with. This maybe a personal opinion, which is still free speech and welcomed. What is your thoughts on the failure of Anglo Irish Bank? Who is responsible for this?
Youre real name wouldn't be Quinn would it?0 -
an offshore entity wrote: »
Not sure about the validity of your comments or what you based them on. A common trait of an Entrepreneur's is being a risk taker.
And a common trait of a scumbag is to hide what he has whilst leaving everybody else to pick up the tab.0 -
I would refer you to the Judgement given on this man and his family by Ms.Justice Dunne.
Youre real name wouldn't be Quinn would it?
Interesting interpretation of court decision!?!
I am completely impartial. I do not favour either party. However, I do believe that those responsible for the failure of Anglo should also stand in a seperate trial. This does not seem likely to happen. I am simply asking why?0 -
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This wasn't a trial it was a contempt of court hearing that showed up the whole Quinn family for the shower of lying, conniving, and scheming fraudsters that they are.an offshore entity wrote: »Interesting interpretation of court decision!?!
I am completely impartial. I do not favour either party. However, I do believe that those responsible for the failure of Anglo should also stand in a seperate trial. This does not seem likely to happen. I am simply asking why?0 -
This wasn't a trial it was a contempt of court hearing that showed up the whole Quinn family for the shower of lying, conniving, and scheming fraudsters that they are.
Defintion of Contempt of Court:
'Contempt of court is a court order which, in the context of a court trial or hearing, declares a person or organization to have disobeyed or been disrespectful of the court's authority. '
12th Paragraph - Sunday Independent
'The trial resumed, amid promises to update the court on his whereabouts. Quinn Jnr and Snr listened intently as the trial progressed.'
http://www.independent.ie/opinion/analysis/tom-lyons-seismic-verdict-brings-a-father-close-to-tears-3175270.html0 -
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and now all he is doing is trying to salvage as much as he can for his family.
..........................
never extravagant, ..............
Didn't his family claim they couldn't live on less than €2000/week?
Never extravagant? That recent wedding looked fairly extravagant.0 -
an offshore entity wrote: »Defintion of Contempt of Court:
'Contempt of court is a court order which, in the context of a court trial or hearing, declares a person or organization to have disobeyed or been disrespectful of the court's authority. '
12th Paragraph - Sunday Independent
'The trial resumed, amid promises to update the court on his whereabouts. Quinn Jnr and Snr listened intently as the trial progressed.'
http://www.independent.ie/opinion/analysis/tom-lyons-seismic-verdict-brings-a-father-close-to-tears-3175270.html
Definition of desperation:
A Quinn shill quoting the Sindo as a legal dictionary!0 -
And a common trait of a scumbag is to hide what he has whilst leaving everybody else to pick up the tab.
I appreciate your view. I do not agree with what the Quinn family have done in respect of hiding assets. The 'tab' exists as a result of banking failures. It consists of many debitors of which the Quinn family is one. Similarly, the tab is not just made up of toxic Anglo loans but involves other financial institutions aswell. It is apparent that we are focusing our blame on one family however I feel that we need to remove our tainted glasses and also make the reckless bankers stand trial.0 -
an offshore entity wrote: »I appreciate your view. I do not agree with what the Quinn family have done in respect of hiding assets. The 'tab' exists as a result of banking failures.
It is as a result of greed........... greed on behalf of the bankers ...and greed on behalf of the Quinns.
The same greed which fuels meetings with the Eastern European mob to facilitate the squirreling away of funds.an offshore entity wrote: »It is apparent that we are focusing our blame on one family however
One at a time.... One at a time0 -
A lot of Sean Quinn apologists on this thread. Do they seriously want us to believe that, in effect, Anglo sent a sales rep to sell them a pup and they bought it because of misleading information?
The truth (and we'll never establish it) probably lies with Seanie Fitz and Sean Quinn coming up with an elaborate plot to make billions, before the world imploded. Investments, on this scale, are only conducted by the top players using inside information to their mutual benefit.
No sympathy for the man0 -
It is as a result of greed........... greed on behalf of the bankers ...and greed on behalf of the Quinns.
The same greed which fuels meetings with the Eastern European mob to facilitate the squirreling away of funds.
One at a time.... One at a time
Totally with you on this one. I just cant see the others being convicted.0 -
an offshore entity wrote: »Totally with you on this one. I just cant see the others being convicted.
Would you let a drunk driver leave court on a Monday just because the mass murder on the loose won't be in court until Friday?0 -
"The truth (and we'll never establish it) probably lies with Seanie Fitz and Sean Quinn coming up with an elaborate plot to make billions, before the world imploded. Investments, on this scale, are only conducted by the top players using inside information to their mutual benefit."
I agree with your thought process on this one. As you say it may well be a masterplan that went wrong. However, both parties (Anglo and Quinn) should stand trial and not just one.0 -
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No party has or is standing trial, but the Quinn gang are the only ones to have given the two finger salute to the High court!an offshore entity wrote: »I agree with your thought process on this one. As you say it may well be a masterplan that went wrong. However, both parties (Anglo and Quinn) should stand trial and not just one.0 -
Definition of desperation:
A Quinn shill quoting the Sindo as a legal dictionary!
I find it interesting how I have been branded a 'Quinn shill'. It seems that someone is quick to form an opinion and/or judgements. I wonder if your views on the Quinn family were formed in the same way.0 -
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Sean Quinn and family are the biggest traitors to walk the land since Dermot MacMurrough swore an oath of allegiance to King Henry II in 1169.
Any family who go to such extraordinary lengths to deprive the Irish State of €500 million worth of assets should not be facing contempt proceedings and instead should be tried as traitors under the Offences against the state acts.
The first rule of gambling is never bet what you cannot afford to lose. The Quinn family borrowed the money and should try to pay it back instead of trying to make matters considerably worse by depriving the Irish state of the assets which are so badly needed at this time.
Hopefully they will be locked up until the €500 million is returned or for many years to come.0 -
Sean Quinn and family are the biggest traitors to walk the land since Dermot MacMurrough swore an oath of allegiance to King Henry II in 1169.
Any family who go to such extraordinary lengths to deprive the Irish State of €500 million worth of assets should not be facing contempt proceedings and instead should be tried as traitors under the Offences against the state acts.
The first rule of gambling is never bet what you cannot afford to lose. The Quinn family borrowed the money and should try to pay it back instead of trying to make matters considerably worse by depriving the Irish state of the assets which are so badly needed at this time.
Hopefully they will be locked up until the €500 million is returned or for many years to come.
The steps that the Quinn family have taken to hide assets from the state is fraudulent. This will not be disputed. However, the bitterness between the Quinn family and Anglo suggests that something doesnt add up. What do do you think of oldyouth's view that
'The truth (and we'll never establish it) probably lies with Seanie Fitz and Sean Quinn coming up with an elaborate plot to make billions, before the world imploded. Investments, on this scale, are only conducted by the top players using inside information to their mutual benefit.'
Is there something else being hidden from the irish people other than the €500 million?0 -
an offshore entity wrote: »The steps that the Quinn family have taken to hide assets from the state is fraudulent. This will not be disputed. However, the bitterness between the Quinn family and Anglo suggests that something doesnt add up. What do do you think of oldyouth's view that
'The truth (and we'll never establish it) probably lies with Seanie Fitz and Sean Quinn coming up with an elaborate plot to make billions, before the world imploded. Investments, on this scale, are only conducted by the top players using inside information to their mutual benefit.'
Is there something else being hidden from the irish people other than the €500 million?
I don't think that is particularly likely as it does not look like there was any master plan. Sean Fitz was not bright enough to come up with such a plan. He appears to be left living off his Anglo pension which he succeeded in transferring joint ownership of to his wife. There is no evidence that he has a hidden fortune elsewhere.
The Quinns would not have had to breach any court injunctions and put property out of reach if they had a master plan. If they had a master plan you would of thought they would have moved to put the property out of reach years earlier.0 -
Just as in the case of Paul Begley (garlic fraudster) the Quinn family and their business operated illegally. The cooked the books and then the kitchen caught fire. They then decided that the best way forward was to commit further crimes and to try and retain as much of their ill gotten gains as possible. Now I understand that for a family used to the finer things in life it would be difficult to get by (on 2 thousand a week) and sure its only normal to try and hang onto as much wealth as they could. But the truth of the matter is they are conning the citizens of this country as those assets are now ours. People like the Quinn family and Mr.Begley need to taught a lesson and as a deterrent prison is the best option. So fcuk them all I say.0
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What kind of idiot squirrels away money via East European mafia. Lots of fu.cking luck trying to even see those assets again.
I'm guessing that if he gets to hold onto these same assets, he will be found dead (heart attack) in a hotel room in his beloved Ukraine/wherever-the-fu.ck.0 -
an offshore entity wrote: »The british media are now focusing on the other side of the story. More articles like this will appear over the coming weeks as people begin to question what really happened.
Yep, people wanted less regulation in the bubble years.
I find it hilarious that the Quinn's would blame regulation. If they'd been more regulated the CFD's wouldn't have been allowed and Quinn might still have a business to save, thanks to the Regulator.Mad Men's Don Draper : What you call love was invented by guys like me, to sell nylons.
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General General wrote: »What kind of idiot squirrels away money via East European mafia. Lots of fu.cking luck trying to even see those assets again.
I'm guessing that if he gets to hold onto these same assets, he will be found dead (heart attack) in a hotel room in his beloved Ukraine/wherever-the-fu.ck.
The same kind of fool who thought he could buy a bank.0
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