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The Truth, the whole truth…..

“We need seven billion.”
“Crap! that’s a lot of moolah. F***ing hell we only have €14 billion. You’re asking me to play silly buggers with regulations.”
“We’re already in breach… 7 billion isn’t a lot if you say it fast. We’ll call it bridging.”
“When will you pay it back?”
“Never you clown. Look! This isn’t rocket science. We want money, you have it, hand it over.”
“Why?”
“Because…just because.”
“But..but,”
“Oh shut the f*** up you idiot.”
“I’ll have to borrow from overseas.”
“Ask me do I care.”

Jail Cell Andrew Bardwell

Jail Cell
Andrew Bardwell

Corruption is an abuse of a position of trust in order to gain an undue advantage.
http://www.anticorruption.ie/
Corruption is also defined as ‘the misuse of entrusted
power for private gain’. It can take many forms in the public and private sectors.
Public corruption involves the misuse of public office for private gain, while private
corruption is between individuals in the private sector, for example, organised
criminals extorting money from a local business.

Fraud can be defined as intentional deception made for personal gain or to cause
damage or loss to another person. It can take many forms and can be perpetrated
against individuals, p
rivate and public organisations and at local, national and
international levels.
WHITE PAPER ON CRIME – Discussion Document No. 3 – October 2010 p.16
http://www.justice.ie

Federal Bureau of Prisons Wikimedia commons

Federal Bureau of Prisons
Wikimedia commons

… the harm caused by major instances
of fraud can have more substantial long-term impacts on individuals and economies
than the offences of many street criminals (Weisburd and Waring 2001). p.37

Page 38 –The Criminal Evidence Act 1992 provides for the admissibility into
evidence of documents/uplifted material in circumstances where this material is
accompanied by a certificate. A number of statutes address the admissibility of
documentary evidence in prosecutions under those particular statutes, e.g., Company
Law Enforcement Act 2001, Competition Act 2002, and Companies Act 1990. p.38

A small number of very serious offences carry higher penalties.
Examples include fraudulent trading (carrying on a company’s business
knowing that its increasing debts will never be paid) and market abuse
(such as insider dealing of company shares that are listed on a stock
exchange).

Page 4 – The High Court can make an individual personally liable for all of a
company’s debts in certain circumstances, including where they are
found:
• to have known that they were involved in carrying on company
business either recklessly or with an intention to defraud someone;
or
not to have kept proper books of account in a company, which in
turn contributed to the company’s inability to pay its debts.

Company creditors and liquidators can make these Court applications.
Page 5 -Where misconduct arises in companies that cannot pay their debts, the
High Court may take other exceptional measures, including the arrest
of company officers and the seizure of personal property if the officers
are evading responsibility for some of the debt. Liquidators and the
ODCE can ask the Court to act in this way.

Page 6 –If anyone is prejudiced (negatively affected) by the conduct of a company or one of its officers or has concerns that the conduct of the
company or one of its officers may not be lawful, they should:
• take independent professional advice to find out what legal
remedies they may have;
report any breach of company law to the ODCE; or
report a breach of any other law to the Garda Síochána or the
responsible regulatory body.
From – Penalties for breaches of Company Law – A Quick Guide
The Office of the Director of Corporate Enforcement
http://www.boardmatchireland.ie/wp-content/uploads/2012/08/Penalties.pdf

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