CBL Insurance IPO

[BlackPeter]

Third CBL fraud accused named as former director Alistair Hutchison in SFO prosecution over collapsed insurer

(paywalled)

https://www.nzherald.co.nz/business/...O6JMZVW4J6OCEU

The alleged fraudulent strategy, according to the court papers, involved CBL facilitating a €12.5 million loan to now liquidated Danish company Alpha Insurance in 2014.

This was allegedly "obscured by a series of transactions that made it appear the lender was Federal Pacific Group (Singapore) Pte Limited", the papers read.

...

At the time, Hutchison was a director of the National Bank of Samoa and was also the founder, owner and director of Federal Pacific Group. The SFO alleges Hutchison obscured the true nature of the transaction.

Whatever it was - our justice system is clearly too slow. Investors lost all they put into CBL due to some peoples fraud, and I am pretty sure that our justice system will need many more years before the people responsible for this fraud will be brought to justice if they are at that stage still alive.

While the people responsible for this fraud (whoever they are) can wait in comfort for the justice system to work very very slowly ... the victims of the fraud need to look after themselves given that nobody else seems to care.

Three years and counting ... what a joke.

[Balance]

Third CBL fraud accused named as former director Alistair Hutchison in SFO prosecution over collapsed insurer

(paywalled)

https://www.nzherald.co.nz/business/...O6JMZVW4J6OCEU



Whatever it was - our justice system is clearly too slow. Investors lost all they put into CBL due to some peoples fraud, and I am pretty sure that our justice system will need many more years before the people responsible for this fraud will be brought to justice if they are at that stage still alive.

While the people responsible for this fraud (whoever they are) can wait in comfort for the justice system to work very very slowly ... the victims of the fraud need to look after themselves given that nobody else seems to care.

Three years and counting ... what a joke.

Life is a comedy for the rich and a tragedy for the poor.

[whatsup]

Will be interesting if a 83 year old will get a slammer stint !

[Balance]

Will be interesting if a 83 year old will get a slammer stint !

Home detention.

[whatsup]

Home detention.

B S Total B S !!

[BlackPeter]

Criminal case against Peter Harris and Carden Mulholland closing and expected to be wrapped up early next week..

According to the Business desk include the criminal charges for both "theft by person in special relationship", "obtaining by deception" and "false accounting".

The accused choose not to give evidence but pleaded "not guilty". Hmm.

About time - nearly 10 years after the alleged crimes have been committed and more than 5 years after they have driven the company into receivership and destroyed nearly $750m in shareholder funds.

Source (Paywalled):
https://businessdesk.co.nz/article/m...m_medium=email

[Sideshow Bob]

Peter Harris not guilty

https://www.stuff.co.nz/business/132...mpany-collapse