this post was submitted on 04 Aug 2023
143 points (99.3% liked)

World News

32297 readers
694 users here now

News from around the world!

Rules:

founded 5 years ago
MODERATORS
 

Leaked documents show businessman went on a spending spree and left a council effectively bankrupt.

you are viewing a single comment's thread
view the rest of the comments
[–] InvertedParallax@lemm.ee 21 points 1 year ago* (last edited 1 year ago) (5 children)

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!

[–] Cobrachicken@lemmy.world 4 points 1 year ago (2 children)

"Mr Kavanagh is no longer living in the UK."

[–] InvertedParallax@lemm.ee 13 points 1 year ago* (last edited 1 year ago) (1 children)

... 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.

The Audit Commission - a spending watchdog that stopped councils taking too many risks - was abolished in 2015.

Again, tories.

[–] Buelldozer@lemmy.world 2 points 1 year ago* (last edited 1 year ago)

Are you honestly saying I can steal the better part of a billion dollars and hop across the border to Mexico without worry?

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.

load more comments (2 replies)