Businessman Jailed For £111m Finance Scam

A company director, who masterminded a £111m scam to fund a luxurious lifestyle of yachts and racing cars, has been jailed for nearly nine years.

Max Fraser, from Leicestershire, was found to be the "driving force" behind the seven-year scam, which involved tricking more than 20 financial institutions, including high street banks, to loan money.

The fraud involved the creation of hundreds of fake invoices for machinery and equipment that either did not exist or had multiple hire purchase agreements on them for a plastics firm, of which Fraser, 44, was managing director.

Leicester Crown Court heard that Fraser carried out the scam between 2001 and 2007, when the company collapsed.

During that period Fraser benefited from a salary of £125,000 a year and £350,000 from directors' loans accounts, using the money to fuel an extravagant lifestyle.

The firm was thought to have been insolvent since 2003.

Fraser concealed the fraud by using numerous lenders, fake emails and accounts and changing the data plates of machinery if investors wanted to see their purchases.

The firm's liquidation led some companies to close and jobs to be lost. Banks, including Allied Irish, were among those affected.

Fraser admitted conspiracy to defraud financial institutions, fraudulent trading and conspiracy to commit false accounting.

Sentencing him to eight years and eight months in jail, the judge said it was a tragedy that a man of such "precocious talents" used these to perpetrate fraud rather than to build up a thriving business.

She (SNP: ^SHEY - news) told the law graduate: "You went deeper and deeper and thought you could trade your way out of financial difficulties.

"You knew you were risking the lives and livelihoods of those who had placed their trust in you and your company."

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Iowa GOP Vote Fraud & Electioneering • January 2nd, 2012

Iowa radio stream captured with Faux News Republican Strategist Dee Dee Benkie; affirming that the Iowa GOP is planning to manipulate the vote by whatever means necessary in order to prevent a first place win for Ron Paul on January 3rd, 2012. Paul likely to be forced into a 'margin of error' against Flip-Flop Mittens & Rick Fecal Matter for plausible deniability of Election Fraud. From her is disclosure of the Iowa GOP's definitive *plans* to inhibit a first-place win by Congressman Paul, not just by shoulder-persuation at the county caucus locations, but via behind-the-scenes trickery. Such as their 'secret vote' count announced *just minutes* following Occupy's plan to disrupt the caucuses. Continuity of agenda, controlled opposition (Occupy) & using that as pretense. www.infowars.com www.prisonplanet.com

Video Rating: 4 / 5

Forensic Accounting and Fraud Investigation for Non-Experts (CourseSmart)

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