UK bankers allowed walk away free from £3m property fraud

ChicagoJoe · 03-12-2014 3:50pm #1

Two RBS bankers have walked away from a £3m property fraud without having to complete jail time because the judge believes they have already "suffered" as they were "embarrassed" by the incident. The bankers, who both earned in excess of £100,000 a year, managed to ascertain loans totalling £3m over a five-year period from 2005. With the loans, they managed to buy three properties in London, one in Essex and another in Kent. It has taken since 2010 for the case to come to court, by which time the bankers have managed to repay the loans to RBS, which Judge Rebecca Poulet QC said, along with the embarrassment they have expressed, is punishment enough :rolleyes:

It's been said that British justice is the best justice that money can buy but this takes the biscuit altogether would you agree ? :mad:

http://www.ibtimes.co.uk/two-rbs-bankers-walk-free-after-committing-3m-property-fraud-1476786

The_Valeyard · 03-12-2014 3:52pm

Unless these people go to jail, the problem will continue, they will find another way to exploit the system. At least the Americans are good at jailing for fraud..

ChicagoJoe · 03-12-2014 3:53pm

The_Valeyard wrote: »

Unless these people go to jail, the problem will continue, they will find another way to exploit the system. At least the Americans are good at jailing for fraud..

Not good enough as far as I'm concerned but we do manage to bag a few, Bernie Madoff been a fine example

ct5amr2ig1nfhp · 03-12-2014 3:56pm

Sure you can get away with fraud of *billions* in Ireland. Ireland 1 UK 0.

Gyalist · 03-12-2014 4:18pm

Ever notice how frequently banks are fined huge amounts by regulators for breaking the law? Fines don't really hurt the banks as they find a way to recoup them from their customers. Until bank directors are held personally liable for the actions of their banks there is no reason for banks to change their behaviour.

ChicagoJoe · 03-12-2014 4:28pm

Gyalist wrote: »

Ever notice how frequently banks are fined huge amounts by regulators for breaking the law? Fines don't really hurt the banks as they find a way to recoup them from their customers. Until bank directors are held personally liable for the actions of their banks there is no reason for banks to change their behaviour.

Very good point, the fines are passed on in bank charges etc and the thieving filth responsible get off not just free but too often payoffs, bonus's and pensions.

ChicagoJoe · 03-12-2014 4:31pm

Anton Cold Buck wrote: »

Sure you can get away with fraud of *billions* in Ireland. Ireland 1 UK 0.

But didn't those responsible for crashing Lloyds, RBS and so on get away with it like Fingers and co. in Ireland ?

cometogether · 03-12-2014 4:52pm

One law for the rich and another for the ordinary folk

theteal · 03-12-2014 4:58pm

Ha ha, I was waiting for this case to come up. I've met Mr Pask quite a few times, I did IT for the care home company he was a director of after the bank 'situation'. The care home company quietly got rid of him about a year ago when this case was resurfacing. We expected no less than jail time tbh.

UK bankers allowed walk away free from £3m property fraud

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