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spyguy

A Bit O/t - Bannatyne Court Case

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Like most 'successful UK businessmen', Duncan Bannatyne appears to be nothing more than a leveraged property play.

There's some interesting court cases playing out at the mo:

http://www.thenorthernecho.co.uk/news/11665226.Director_arrested_in_massive_fraud_probe_at_Bannatyne_s/

http://www.thenorthernecho.co.uk/news/11678359.Second_arrest_in_multi_million_pound_fraud_inquiry_at_Bannatyne_s/

'In another book, Mr Bannatyne talks about having identified Mr Armstrong’s talents and earmarked him for bigger and better things.'

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What does Bannantyne actually do?

He is not CEO...arrested.

He is not CFO..arrested.

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If you were going to do something dodgy you would first move yourself away from responsibility to you wouldn't be prosecuted.

Sounds like Bannatyne has got his suckers lined up in advance.

:rolleyes:fraud by abuse of position implies that directors have been taking money out of the company without the approval of shareholders.

Which would imply that Duncan took his eyes off the ball and management decided to take some cash..

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:rolleyes:fraud by abuse of position implies that directors have been taking money out of the company without the approval of shareholders.

Which would imply that Duncan took his eyes off the ball and management decided to take some cash..

I would assume that his bank account is audited as part of this process and no large sums of unexplained cash or brown paper bags are found at the scene.

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:rolleyes:fraud by abuse of position implies that directors have been taking money out of the company without the approval of shareholders.

Which would imply that Duncan took his eyes off the ball and management decided to take some cash..

huh?...Directors can do what they want with the Company resources?..Shareholders can vote them off the board, but for legal actions, that is about all they can do.

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huh?...Directors can do what they want with the Company resources?..Shareholders can vote them off the board, but for legal actions, that is about all they can do.

They must act in the best interests of all shareholders.

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They must act in the best interests of all shareholders.

And the sanctions are?

I believe the fiduciary duty is to the Company as they are employed by the Company, not the Shareholders

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If anyone is seriously interested in looking it all more then just look at the number of registered companies at the same head office address ;-) About time it all caught up with them and it couldn't happen to a nicer bunch of tw@tz than the directors there!

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