Sunday, August 14, 2011

Property soap drama

Tycoon's drink-driving son killed wealthy couple

He had built up a small property portfolio which had suffered due to the economic downturn. This led to him being made bankrupt. Jonathan Knowles, 33, who had been drowning his sorrows a day after being made bankrupt, staggered into his mother’s £60,000 Mercedes sports car and ploughed into Alan and Rochelle Bernard. Yesterday Knowles, whose father John is an industrial property tycoon, was jailed for seven years.

Posted by peter_2008 @ 01:58 AM (2086 views)
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7 thoughts on “Property soap drama

  • ‘Knowles, whose parents live in a £4million seafront home on Sandbanks, was arrested at the scene.’

    ~ He’s not bankrupt, well, not in the financial sense of the word.

    I hope he gets rammed at 60mph in prison.

    It may tone down his arrogance.

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  • The article shows the type of folk who have ramped up our house prices. The truth is, for many, huge debt. The banks which lent to this guy have now made him bankrupt. I only see one winner in this story – the bank.

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  • little professor says:

    Surely the bank (and by extension the taxpayer) is the loser here. The properdee portfolio is undoubtedly worth less than the amount of the outstanding mortgages, and the bank will take the hit

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  • the myth of a portfolio of properties being a one way road the riches is unravelling by the day

    and thats with 0.5% base rate

    two lives needlessly lost here

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  • LP

    You are right of course.

    My point was that the guy was given the money and now gets punished by the bankers when things go wrong. Perhaps they should have been more prudent at the time of lending. The banks needed these fools to make their money for them.

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  • 6. will.

    Pass the parcel?

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