IT: Liquidator wants company directors to be made liable

irishtimes.com/newspaper/finance/2008/1210/1228849742808.html

Liquidator wants company directors to be made liable for €3.2m debts

Typical of the reckless corruption and theft in the property game.

by not paying tax these people not only defrauded the state but effectively took business from solvent companies who couldd have done the same work.

When they did go insolvent a new company took over the contracts. By pure coincidence this new company was owned and run by the son.

Those who wish Ireland was closer to Boston than Berlin should start by Jailing tax defrauders like they do in the states.

LArge scale Tax fraud?

Go to jail.

This isn’t a case of minor errors this is a case of blatantly using tax withheld from employees and suppliers to run the company.

Agreed. Directors who are found guilty of ‘large scale fraud’ should be jailed (I have no comment to make in relation to the guilt/innocence of the Directors in the case mentioned above).

It’s not just the property game. I have first-hand experience of exactly the same carry-on in IT!

This country is corrupt from top to bottom and across every industry.

I think the liquidator wants something more than just jail time, I think he is talking about getting back the ill-gotten wealth from where-ever it has gone. While I understand this is possible in fraud, reckless trading can be difficult to prove and difficult to get personal assets.

Only in cases of serious fraud will the High Court on for incorporating is to protect your personal assets from creditors when things go tits-up either voluntarily or involuntarily. In the current climate it’ll be interesting to see what approach is taken by either the ODCE or the fraud squad.