Sean Quinn Jailed

cartell_best · 03-11-2012 07:01PM

KeepTheFaith wrote: »

Can anyone answer a few questions for me?

1: Quinn says he offered to pay back the money he owed within 7 years, a payment plan that it is claimed was backed as being a legitimate possibility by some reputable source (possibly a German bank) This offer was rejected. Did this happen and if so, why?

2: Presumably Quinn is trying to contest the loan's made to him from Anglo Irish under Section 60 of the Companies Act. If he can prove that Anglo shouldn't have lent the money then the loan would be invalid and the subsequent actions by Anglo/Government would need to be reversed. Is this case being brought before the courts?

3: Did Anglo know that they money they were lending to Quinn was going to buying shares in the bank? Do you "buy" CFD's as such? And does CFD give you the same rights as shares with regard to ownership ie. Was Quinn trying to buy control of Anglo?

4: Why exactly is the levy being imposed on Irish insurance policies as a result of Quinn Insurance?

Thank you for anyone who can shed any light on the above.

Sir (I'm presuming), you need to do a little bit more investigating. Your points are neither valid nor relevant. I would not rely on media to be a source of complete trust.

By your way of thinking then a vast amount of people who invested in property or whatever, are in effect, non-compliant in their promise and guilty of same. All the major banks provided funding to people buying homes and business's. The only thing was or, is borrowing 300,000 to buy a home or is investing thousands upon millions a difference in principle? simply because someone was led to believe that it had not an end in sight?

03-11-2012 07:08PM

cartell_best wrote: »

Sir (I'm presuming), you need to do a little bit more investigating. Your points are neither valid nor relevant. I would not rely on media to be a source of complete trust.

By your way of thinking then a vast amount of people who invested in property or whatever, are in effect, non-compliant in their promise and guilty of same. All the major banks provided funding to people buying homes and business's. The only thing was or, is borrowing 300,000 to buy a home or is investing thousands upon millions a difference in principle? simply because someone was led to believe that it had not an end in sight?

I have not made any points I have asked questions. Just to note my questions are asked genuinely looking for an answer. I'm not asking them trying to make any greater point. They are based on claims by pro-Quinn people and I was wondering if someone could answer them.

I am from Cavan yes but I am not pro Quinn by any means. Neither do I like to label the people in support of Quinn as being a crowd of muck savages. And I think the fact that Section 60 allows people to borrow money from a bank, use it to illegally buy shares in that bank, and then use that illegality to escape paying back the loan, is farcical.

cartell_best · 03-11-2012 07:19PM

KeepTheFaith wrote: »

I have not made any points I have asked questions. Just to note my questions are asked genuinely looking for an answer. I'm not asking them trying to make any greater point. They are based on claims by pro-Quinn people and I was wondering if someone could answer them.

I am from Cavan yes but I am not pro Quinn by any means. Neither do I like to label the people in support of Quinn as being a crowd of muck savages. And I think the fact that Section 60 allows people to borrow money from a bank, use it to illegally buy shares in that bank, and then use that illegality to escape paying back the loan, is farcical.

You made no points? Yet you state personal opinion in what I can only consider a reference to what you state now! "I am from Cavan ", I'm from Waterford..and...when did that come into the equation??? and "Neither do I like to label the people in support of Quinn as being a crowd of muck savages", what in God's name is that about??

03-11-2012 07:29PM

cartell_best wrote: »

You made no points? Yet you state personal opinion in what I can only consider a reference to what you state now! "I am from Cavan ", I'm from Waterford..and...when did that come into the equation??? and "Neither do I like to label the people in support of Quinn as being a crowd of muck savages", what in God's name is that about??

I made no points in my original post. I simply asked questions. None of which you have addressed, you just seem to be spoiling for an argument. You suggested I made points so I clarified that I wasn't a Quinn supporter merely an interested party who is trying to look at the situation objectively.

kunst nugget · 03-11-2012 07:32PM

KeepTheFaith wrote: »

I have not made any points I have asked questions. Just to note my questions are asked genuinely looking for an answer. I'm not asking them trying to make any greater point. They are based on claims by pro-Quinn people and I was wondering if someone could answer them.

I am from Cavan yes but I am not pro Quinn by any means. Neither do I like to label the people in support of Quinn as being a crowd of muck savages. And I think the fact that Section 60 allows people to borrow money from a bank, use it to illegally buy shares in that bank, and then use that illegality to escape paying back the loan, is farcical.

I posted this link earlier but I'll post it here again. It goes over the main points of the whole affair.

http://www.bbc.co.uk/news/uk-northern-ireland-19063419

Here's an explanation of CFDs and why they were so popular:

http://www.independent.ie/national-news/just-three-letters-cfd-at-centre-of-shares-controversy-1644972.html

And here is an explanation on the levy:

http://www.irishtimes.com/newspaper/opinion/2012/0806/1224321565868.html

All concise articles and all much better at being able to explain it then I could.

cartell_best · 03-11-2012 07:46PM

KeepTheFaith wrote: »

I made no points in my original post. I simply asked questions. None of which you have addressed, you just seem to be spoiling for an argument. You suggested I made points so I clarified that I wasn't a Quinn supporter merely an interested party who is trying to look at the situation objectively.

My Good God, ok, whatever you think!

Curly Judge · 03-11-2012 08:13PM

I do hope that all the saintly, law abiding posters who welcome Sean Quinn's jailing have paid their household charge?

Run_to_da_hills · 03-11-2012 08:33PM

Curly Judge wrote: »

I do hope that all the saintly, law abiding posters who welcome Sean Quinn's jailing have paid their household charge?

Let he who is without sin cast the first stone.

MagicSean · 03-11-2012 08:50PM

Is the Quinn apocalypse over yet? Can we walk the streets safe in the knowledge his deluded fan club won't go mental and kill us all?

Japer · 03-11-2012 09:01PM

Park Royal wrote: »

There are alot more people who should be up for criminal negligence , such as

County Managers, Planning Departments in most counties, county building inspectors, ....each and every county ended up with near thousand empty housing units in....each county........professional planners.....me arse...

as for the Central Bank and the Regulator these were obviously not fit

for purpose and each administration ( ie government party) who oversaw this
situation...must take the blame ....as the buck stops with them....

there are some investigations ongoing into the banking "situation" and I suspect many Bank Directors are going to take a hit, together with many Bank Financial Controllers ......

as for Quinn.....when he started selling cheap cement across the Border from Fermanagh .....Derrylynn .....he was on a winner.....caused a few jobs to be lost in the 26 counties , but no matter, created more in there place....

I'm sure when he and his family sort themselves out....there might be another good product they could sell from the 6 counties into the Republic....fuel perhaps.....?

+1. As he languishes in jail now in the Republic, I'm sure he wishes he stayed in Northern Ireland. At least the banks and public service in the UK were and are better run / less corrupt.

Quinn invested south of the border. He got stung by Seanie and Bertie and his pals. He should have stayed in his UK stg jurisdiction.

If a German invests in a Nigerian bank he will get stung. If a Yank invests in South America he will get stung. Same thing.

MagicSean · 03-11-2012 09:09PM

Japer wrote: »

+1. As he languishes in jail now in the Republic, I'm sure he wishes he stayed in Northern Ireland. At least the banks and public service in the UK were and are better run / less corrupt.

Quinn invested south of the border. He got stung by Seanie and Bertie and his pals. He should have stayed in his UK stg jurisdiction.

If a German invests in a Nigerian bank he will get stung. If a Yank invests in South America he will get stung. Same thing.

I wish he did too Gigino.

tayto lover · 03-11-2012 09:12PM

MagicSean wrote: »

Is the Quinn apocalypse over yet? Can we walk the streets safe in the knowledge his deluded fan club won't go mental and kill us all?

Yes but watch out for Seanie, Drumm, the Regulator of the time and a good lot more who are still at large.

Japer · 03-11-2012 09:20PM

tayto lover wrote: »

Yes but watch out for Seanie, Drumm, the Regulator of the time and a good lot more who are still at large.

lol lol. still at large after 4 years. Why should the public service go after other members of the public service? The bankers , the regulator, the Central Bank, Bertie,, the politicians, the dept of Finance........all are / were public service or as good as public service or worked for institutions which are now public service.
Only job creators get shafted in this banana republic. The inner circle get golden pensions. Quinn, like so many of us, trusted the banks and politicians to do their jobs properly......had they done so, the country would not be in a mess and Quinn would not be in jail.

Galwayguy35 · 03-11-2012 09:46PM

Japer wrote: »

+1. As he languishes in jail now in the Republic, I'm sure he wishes he stayed in Northern Ireland. At least the banks and public service in the UK were and are better run / less corrupt.

Quinn invested south of the border. He got stung by Seanie and Bertie and his pals. He should have stayed in his UK stg jurisdiction.

If a German invests in a Nigerian bank he will get stung. If a Yank invests in South America he will get stung. Same thing.

Yeah and we all wish he would have started Quinn Insurance in NI as well as anyone who drives a car will be paying for the bailout that was given to them for years to come.

Japer · 03-11-2012 09:53PM

Galwayguy35 wrote: »

Yeah and we all wish he would have started Quinn Insurance in NI as well as anyone who drives a car will be paying for the bailout that was given to them for years to come.

Quinn trusted the banks and politicians to do their jobs properly...and if they had then none of us would be paying for the bailout AND the golden pensions.

Curly Judge · 03-11-2012 10:10PM

Anglo - I refuse to call them by any other name- thought they had only to shake a writ in front of Sean Quinn and he would roll over and play ball with them.
Now that he has called their bluff they are in a flat spin wondering what to do next.
They have thrown their best dagger and it has failed to kill.
They are ****ting themselves now wondering where this will go next.

If he's still in jail on Christmas eve I'll be outside the jail singing "Abide with Me" and I don't think I'll be alone.

MagicSean · 03-11-2012 10:16PM

Japer wrote: »

Quinn trusted the banks and politicians to do their jobs properly...and if they had then none of us would be paying for the bailout AND the golden pensions.

Even if he was innocent of wrongdoing in the collapse that just makes him incompetent instead. He is either responsible because of bad business practice or illegality.

It doesn't change any of what he did afterward either, which was entirely illegal.

MagicSean · 03-11-2012 10:18PM

Curly Judge wrote: »

Anglo - I refuse to call them by any other name- thought they had only to shake a writ in front of Sean Quinn and he would roll over and play ball with them.
Now that he has called their bluff they are in a flat spin wondering what to do next.
They have thrown their best dagger and it has failed to kill.
They are ****ting themselves now wondering where this will go next.

If he's still in jail on Christmas eve I'll be outside the jail singing "Abide with Me" and I don't think I'll be alone.

Don't forget your hat and scarf. It'll be chilly.

Japer · 03-11-2012 10:26PM

MagicSean wrote: »

Even if he the banksters + friends in the public service ( regulator, central bank, politicians, dept of finance etc ) was innocent of wrongdoing in the collapse that just makes him them incompetent instead. He is They are either responsible because of bad business practice or illegality.

fixed that for you.

Quinn trusted the banks and politicians to do their jobs properly here when he invested here, just as the banks and politicians do their jobs properly in his native U.K. stg jusisdiction.

Fiery mutant · 03-11-2012 10:35PM

His native stg UK jurisdiction ???

kunst nugget · 03-11-2012 10:36PM

Japer wrote: »

Quinn trusted the banks and politicians to do their jobs properly...and if they had then none of us would be paying for the bailout AND the golden pensions.

What are you on about? By using CFDs Quinn was able to bypass Stock Exchange disclosure requirements that all shareholdings over 3pc be revealed to the market. Quinn wasn't trying to trust the banks and politicians to do their jobs properly, he was trying to bypass them covertly with CFDs to try and maximise his profit but his massive gamble completely flopped. Anglo at the time didn't realise the massive stake Quinn had built up in the bank.

Curly Judge wrote: »

Anglo - I refuse to call them by any other name- thought they had only to shake a writ in front of Sean Quinn and he would roll over and play ball with them.
Now that he has called their bluff they are in a flat spin wondering what to do next.
They have thrown their best dagger and it has failed to kill.
They are ****ting themselves now wondering where this will go next.

If he's still in jail on Christmas eve I'll be outside the jail singing "Abide with Me" and I don't think I'll be alone.

Your god awful purple prose doesn't change the fact that he is in jail for breaking the law. Go and sing 'Abide with me' all you want, it's not going to change the fact that because of his reckless gambling everyone in this state taking out a car or home insurance policy has to pay an extra 2% levy for at least the next 25 years. His criminal actions have directly affected everyone in this state.

opti0nal · 03-11-2012 10:39PM

MagicSean wrote: »

Don't forget your hat and scarf. It'll be chilly.

from Abercrombie and Fitch, that's where the Quinns get their casual clothing.

hardCopy · 03-11-2012 10:40PM

Curly Judge wrote: »

Anglo - I refuse to call them by any other name- thought they had only to shake a writ in front of Sean Quinn and he would roll over and play ball with them.
Now that he has called their bluff they are in a flat spin wondering what to do next.
They have thrown their best dagger and it has failed to kill.
They are ****ting themselves now wondering where this will go next.

If he's still in jail on Christmas eve I'll be outside the jail singing "Abide with Me" and I don't think I'll be alone.

Can't wait to see that.

flutered · 03-11-2012 10:46PM

i

Japer wrote: »

Quinn trusted the banks and politicians to do their jobs properly...and if they had then none of us would be paying for the bailout AND the golden pensions.

did he, also he was trusted to run his buisness properly, the way his insurance co for one was ran, the way he has been squirrling billions away beond the reach of the irish taxpayer, no sane person would trust a banker or a politician to do anything, hark back to aib, they are rather partial to goverment bailouts, how the hell the baldy one could consider them as a pillar bank i will never understand.

Japer · 03-11-2012 10:50PM

Fiery mutant wrote: »

His native stg UK jurisdiction ???

He is from Fermanagh, is he not, which is where he grew up and started his business. The banksters and politicians who failed to do their jobs properly were in this (26 county) jurisdiction. Had the banksters and politicians done their jobs properly, the country would not be in this mess, and Quinn would not be the fall guy.
One moral of the story : if you are a businessman from outside the 26 counties, do not come here and trust the regulation, politicians or banks. Do not invest here. They will destroy you and jail you rather than stop the pension of one of their cronies.

Its ironic that someone who came from a community known for their distrust and criticism of British regulation and British laws should be conned by 26-county regulation and way of business.

MagicSean · 03-11-2012 10:51PM

Japer wrote: »

fixed that for you.

Quinn trusted the banks and politicians to do their jobs properly here when he invested here, just as the banks and politicians do their jobs properly in his native U.K. stg jusisdiction.

You didn't fix anything. You changed the whole content to be about someone else. It's just the standard Quinn deflection tactic.

Anyway, wasn't there an interest rigging scandal this year in the English banks.

Grayson · 03-11-2012 11:02PM

Japer wrote: »

He is from Fermanagh, is he not, which is where he grew up and started his business. The banksters and politicians who failed to do their jobs properly were in this (26 county) jurisdiction. Had the banksters and politicians done their jobs properly, the country would not be in this mess, and Quinn would not be the fall guy.
One moral of the story : if you are a businessman from outside the 26 counties, do not come here and trust the regulation, politicians or banks. Do not invest here. They will destroy you and jail you rather than stop the pension of one of their cronies.

Its ironic that someone who came from a community known for their distrust and criticism of British regulation and British laws should be conned by 26-county regulation and way of business.

He bet billions and lost it. In the process he broke financial regulations on his insurance business. How exactly is he a fall guy? He lost all that money. The state now has to cover his bad debts. And he's trying to steal back money from the state.

He's breaking the law and he's going to jail for it. I know there are loads of others who should be in jail too, and they're not. But that doesn't mean that Quinn shouldn't be in jail.

touts · 03-11-2012 11:03PM

Had he cooperated with the bank on repaying the money he owed then he would be playing golf and plotting his next business venture.

Instead he and his family did everything possible to put assets outside the reach of their creditors. Those creditors brought a case to the courts to force them to stop doing this and even though the courts ruled that they had to stop doing this they continued to work to hide assets. Worse still they allowed themselves be filmed saying they didn't care about the Irish courts.

They are not doing jail time just because they mishandled the business and gambled billions on an attempt to take over a bank. They landed in jail because they showed a total and utter contempt of court. A complete and utter disrespect for the law of the land and the court in which that law is enacted. The Quinns are no different in that respect from any other criminal family effing and blinding to the court. Disrespect the law and the law will come down on you like a hammer. So THAT is why Sean "Seanie" Quinn is in jail tonight and why Sean "Sonny" Quinn Jnr was in jail and why Peter "The Nephew" Quinn is on the run.

Father Damo · 03-11-2012 11:13PM

kunst nugget wrote: »

it's not going to change the fact that because of his reckless gambling everyone in this state taking out a car or home insurance policy has to pay an extra 2% levy for at least the next 25 years. His criminal actions have directly affected everyone in this state.

It is annoying but seriously, what will that be to an average Joe over 25 years, maybe 400 euro? It is regrettable but the taxpayer pays a whole lot more on social welfare for jobless lazy travellers during the CT years when theyb should have been working. That, if you ask me, is where the Irish taxpayer deserves a refund.

In saying that though if I used money from a work expenses account to put money on a horse I was certain would win, and it lost,I would not expect to keep my job. And whining that the horse owner assured me it was a good bet would not matter too much to anyone.

And if I was worth three billion I should be happy enough not to stake these bets anyway.

good logs... · 03-11-2012 11:17PM

tell quinn ill do the 9 weeks for him, if gives me half the money hes trying to hide.

Sean Quinn Jailed

Comments