It looks like corruption, it probably is corruption, and I bet you my bottom dollar nothing ever comes of it.
To send someone down for something like this you basically need a note written in the defendant’s own blood saying “I am deliberately and knowingly carrying out corrupt deeds which are prohibited by the law”, and even that would probably be seen as weak evidence. Hell, a videotape of them discussing how to be corrupt, how they will profit from it, how to launder the money would not be enough. It hasn’t been in prior cases of this type, where they’ve got as far as someone looking at them.
There’s practically no recourse for this kind of crime. It’s a wonder to me that more people don’t embezzle and defraud, given that the chances of facing any consequences seem to be practically zero.
I cast my mind back to working for a large brokerage in 2005, and them hiding nearly $500m in losses through accounting fraud for years on end, and eventually rinsing investors for a few $bn. EVERYBODY knew about it - pretty much down to the mail room guys. The entire upper echelon of the company were in on the scam. The CEO went to jail because he threatened to squeal on the guys at the SEC who had turned a blind eye (the things people will do for a nice meal out and season tickets) until a whistleblower ruined the party.
As far as I can tell the only time people face prosecution for fraud and what have you is when they are small, unconnected people. You know, life in jail for $20 out of the register, summary execution for standing funny. Well, either that or connected people who lost their protection or failed to give the right politician a bribe.
Steal a public utility? Welcome to government, my friend.
> Hell, a videotape of them discussing how to be corrupt, how they will profit from it, how to launder the money would not be enough. It hasn’t been in prior cases of this type, where they’ve got as far as someone looking at them.
Can you provide any example to back up this claim?
Yeah, that’s why it works. Even the auditor doesn’t necessarily realise they’ve been bought. You’re just going to choose to not look at this particular odd set of loans because you don’t want to create a problem for Philip, he’s such a gentleman, and you’re sure there’s nothing untowards there. Plus your son in law works for one of the group companies, so there’s that.
Most corruption doesn’t happen due to money changing hands, but due to misplaced personal loyalty, and reality being less seemingly plausible than fiction.
To send someone down for something like this you basically need a note written in the defendant’s own blood saying “I am deliberately and knowingly carrying out corrupt deeds which are prohibited by the law”, and even that would probably be seen as weak evidence. Hell, a videotape of them discussing how to be corrupt, how they will profit from it, how to launder the money would not be enough. It hasn’t been in prior cases of this type, where they’ve got as far as someone looking at them.
There’s practically no recourse for this kind of crime. It’s a wonder to me that more people don’t embezzle and defraud, given that the chances of facing any consequences seem to be practically zero.
I cast my mind back to working for a large brokerage in 2005, and them hiding nearly $500m in losses through accounting fraud for years on end, and eventually rinsing investors for a few $bn. EVERYBODY knew about it - pretty much down to the mail room guys. The entire upper echelon of the company were in on the scam. The CEO went to jail because he threatened to squeal on the guys at the SEC who had turned a blind eye (the things people will do for a nice meal out and season tickets) until a whistleblower ruined the party.
As far as I can tell the only time people face prosecution for fraud and what have you is when they are small, unconnected people. You know, life in jail for $20 out of the register, summary execution for standing funny. Well, either that or connected people who lost their protection or failed to give the right politician a bribe.
Steal a public utility? Welcome to government, my friend.