Quinn sold $200m assets to relatives

Trampas

Anglo are saying the following reported by RTE

Anglo Irish Bank has alleged the Quinn family sold assets of almost $200m in return for a laptop and €1,000 in order to put them beyond the reach of the courts and the bank.

If this is true it is a disgrace but wouldn't surprise me for a second. I would have thought they have stopped things like this happening.

http://www.rte.ie/news/2011/1011/quinn.html

dixiefly

As Jim Power said on Vincent Browne show......this will be truly sickening if true.

Dannyboy83

I really wouldn't be surprised if it's true, and I would be equally unsurprised if they'll get away with it.

What's the story with the Anglo investigation?
Bernie Madoff will be a free man before we ever get a result from the Anglo investigation at this rate.
I reckon that's their plan - keep delaying until people forget.
Then bury it, Official Secrets Act or something.

People have pretty much forgotten about the Mahon Tribunal, haven't they?
That was due about 2 years ago at this stage. Lol.

Personally, I've zero faith left in our system & while most of the general public never had much interest/faith to begin with, it's certainly at an all time low I reckon.

Sponge Bob

He gave them to relatives for some pittance to make it look like a contract.

http://www.irishtimes.com/newspaper/frontpage/2011/1012/1224305644909.html

r Quinn’s wife and five children used a court injunction as cover for “unlawful and hidden actions” to put assets beyond the reach of Anglo, which is owed €2.8 billion by the family. This included transferring the assets of a Russian firm, Finansstroy, which owns the Kutuzoff Tower office block in Moscow, worth $180 million, to their cousin Peter Quinn for about $1,000.

The block is the most valuable asset in the family’s international property portfolio which stretches to Turkey, Ukraine and India.

The bank also claimed the family transferred assets worth $13.5 million at another Russian company, Red Sector – the owner of a DIY store – to Stephen Kelly, the husband of Mr Quinn’s daughter Aoife, in return for the $380 laptop computer.

The claims are contained in an affidavit sworn by Anglo executive Richard Woodhouse, which was opened in court, despite repeated attempts by the family to block or postpone its admission in the case.

Anglo is seeking to lift the injunction obtained by the family last June which stops the bank seizing control of the properties. The document contained material that was essential to understanding the case, Anglo argued. The Quinns said the claims were “scandalous”, “irrelevant”, “vexatious” and “frivolous”.

RonMexico

This is just criminal.

jmayo

I wonder if any of the quinn supporters, who were previously on here lauding his achievements and his contributions, care to comment on this ?

I would hazard a guess he is not the only one to parttake in these type of shenanigans. :mad:

mrgaa1

fair play to them and I hope they get away with it. Everybody else is getting of with it. Will we ever see Bertie and Brian Cowan in court? Will we see ALL the mortgage brokers who falsified documents in court? will we see all the bank managers who approved all the loans based on documentation they had in their hands? Will we see all the officials from all the banks at HQ's who approved all the loans in court? Will we see all the officials from Financial Regulator in court to explain their inactions?

No we will not. So sod the lot of them. If Quinn gets away with it - good luck to him. If he doesn't so be it. Its happening all over the country where large debts are going to be wiped out because they've already been written off and noted in bank re-capitalisation.

Wipe the slate and lets start again. When people have money in their pockets we will recover - until then we're stuffed.

jmayo

mrgaa1 wrote: »

fair play to them and I hope they get away with it. Everybody else is getting of with it. Will we ever see Bertie and Brian Cowan in court? Will we see ALL the mortgage brokers who falsified documents in court? will we see all the bank managers who approved all the loans based on documentation they had in their hands? Will we see all the officials from all the banks at HQ's who approved all the loans in court? Will we see all the officials from Financial Regulator in court to explain their inactions?

No we will not. So sod the lot of them. If Quinn gets away with it - good luck to him. If he doesn't so be it. Its happening all over the country where large debts are going to be wiped out because they've already been written off and noted in bank re-capitalisation.

Wipe the slate and lets start again. When people have money in their pockets we will recover - until then we're stuffed.

Ah yes the old Irish mindset of "screw the system".

Accept sunshine "the system" is you, me, your kids if you have any, your aging parents, the sick kid down the road, the guy in accident needing guards and ambulance, etc.

Won't it be better of us trying to stop further screwing of the system rather than congratulating grand examples of it ?

BostonB

Mindset or not. Its the reality.

Paparazzo

mrgaa1 wrote: »

fair play to them and I hope they get away with it. Everybody else is getting of with it. Will we ever see Bertie and Brian Cowan in court? Will we see ALL the mortgage brokers who falsified documents in court? will we see all the bank managers who approved all the loans based on documentation they had in their hands? Will we see all the officials from all the banks at HQ's who approved all the loans in court? Will we see all the officials from Financial Regulator in court to explain their inactions?

No we will not. So sod the lot of them. If Quinn gets away with it - good luck to him. If he doesn't so be it. Its happening all over the country where large debts are going to be wiped out because they've already been written off and noted in bank re-capitalisation.

Wipe the slate and lets start again. When people have money in their pockets we will recover - until then we're stuffed.

Very sad that people have this attitude. Sounds like what the priests and bishops were saying when their mates were raping kids. Sure they're all doing it and getting away with it, so it's ok.

damino

If this is ture, then government should take away the Quinn's family citizenship of the Ireland. Afterall they live in Northern Ireland in absolute comfort where most ordinary folk are suffering. Quinn himself does not give 2 F**ks about the people that worked for him or Ireland. He was just pure greedy.

Voltex

Answer this honestly...if you were Sean Quinn..what would you have done?

Dannyboy83

Voltex wrote: »

Answer this honestly...if you were Sean Quinn..what would you have done?

What I, you or Al Capone would do is irrelevant.
What is relevant is that our system seems to be doing little if anything from deterring these lads from doing whatever the hell they feel like.

It reminds me of the the famous Leona Helmsley quote:
"We don't pay taxes. Only the little people pay taxes..."

Patrick2010

Voltex wrote: »

Answer this honestly...if you were Sean Quinn..what would you have done?

Irrelevant question, I'm sure no one here can put themselves in Sean Quinns position, one of the richest men on the island who gambled almost 3 billion just to try and increase his personal wealth even more.
Clearly Quinn and his family are trying to keep as much of their personal wealth for themselves and keeping it away from Anglo Irish i.e. the taxpayer.

Bear in mind that every 100 million the Quinn family keep from repaying the country is money we could be putting into carers and looking after people who can't live the Quinn champagne lifestyle. Hopefully the law will make sure they don't get away with it.

MadsL

Answer this honestly...if you were Sean Quinn..what would you have done?

...and this is why this country is fúcked beyond belief...

BostonB

I think the fact is they have no fear of prosecution is the chicken before the egg here.

mrgaa1

Paparazzo wrote: »

Very sad that people have this attitude. Sounds like what the priests and bishops were saying when their mates were raping kids. Sure they're all doing it and getting away with it, so it's ok.

PLEASE remove that remark - DO NOT relate what I wrote to what that scum did. :mad::mad::mad::mad:

BostonB

Its a bit like godwins law.
http://en.wikipedia.org/wiki/Godwin's_law

Dare I say it's time to sacrifice some of these pr1cks and use the means of government to recover every single cent they have transferred out of reach of who they out the money to, i.e. the state which we are all part of.

I won't shed a tear if every member of this family found to be involved ends up in jail.

jhegarty

mrgaa1 wrote: »

fair play to them and I hope they get away with it.....

And when you renew your insurance next year and see the levy to pay quinn's debts, you will still say fair play ?

Andrew33

And don't forget the govt is talking about (or has already passed) the 2% levy going on all insurance policies to cover Quinns "losses".
They don't even bother with brown envelopes anymore, they just carry out their shenanigans in plain sight and stick their grubby little fingers up at the rest of us.

rodento

Are there not major tax issues with this