I always find this news story pertaining to Megas when I do searches looking for anything that might give us a clue as to what the F%$# is going on here that Megas doesn't want to talk about. I find the quote in the article damning to our cause..
"In court, the judge also said Swiss-based hotelier Tom Megas and south London lawyer George Keppe were lucky to escape prosecution."
They were luck??? They said settlements were paid, but to vague to put to Megas. Does this sort of business dealings give our stock a "RED" light? Megas has had SIX years to sue people for fraud and theft (besides us)in regard to BCIT. Why hasn't he done it? If there is damning evidence to support our cause then the sooner that is in the open the safer all involved who were victims become. Megas is hiding something and I hate saying it. Shadey past and complete shadowed present are not good signs for us to have a day in the sun.
Very frustrated with the lack of information that we should openly know and not reguire an attorney to afford it.
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SFO widens bribes inquirySecond Yorkshire businessman to be prosecuted ? DTI to make jailed Hinchliffe bankrupt
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Paul Farrelly, City editor The Observer, Sunday 25 February 2001 Article historyThe Serious Fraud Office is planning a second major prosecution in the 'bribes-for-loans' scandal that led to the jailing of Sheffield businessman Stephen Hinchliffe, The Observer can reveal.
The news comes as the Department of Trade and Industry plans to make Hinchliffe bankrupt over unpaid court costs of £180,000 at a hearing on 5 March.
Amid a flurry of further legal action, the crooked entrepreneur also now faces confiscation of his assets, including his Sheffield mansion and classic car collection, and an inquiry by the fraud squad into his stewardship of Hull City football club.
Ten days ago Hinchliffe, the former boss of the collapsed Facia retail empire, was sentenced to five years in prison for corruptly obtaining more than £12 million in loans from Israel's United Mizrahi Bank (UMB). The bank's manager, John Doherty, was also jailed for five years after taking £800,000 in bribes from the flamboyant entrepreneur.
Facia was just the tip of the iceberg in Doherty's corrupt dealings, which involved around £50m of loans to a number of dubious firms.
The Observer has established that the SFO and South Yorkshire police intend to charge Doherty's biggest former 'client': another Yorkshire businessman, who borrowed more than £15m and allegedly paid bribes, like Hinchliffe, via a web of offshore companies.
The businessman is currently facing trial on unconnected charges and for legal reasons cannot be named. UMB recovered all its loans to Facia, which crashed in 1996, but has not done so in this case, sources close to the inquiry say.
This weekend the SFO declined to comment. 'The only person against whom proceedings have been taken in the UMB affair is Stephen Hinchliffe,' a spokesman said.
However, at least 10 other people who allegedly took loans and gave or handled bribes for Doherty have escaped charges following one of the SFO's biggest ever inquiries. The individuals, all known to The Observer, include a prominent City property developer, a smoked salmon supplier and a former director of a football club.
In court, the judge also said Swiss-based hotelier Tom Megas and south London lawyer George Keppe were lucky to escape prosecution.
Separately, UMB also launched a series of civil actions to recover money from Doherty's ex-clients. All have been settled, save for an outstanding writ against a London marketing executive. A judgment has also recently been obtained in the US against an American businessman who used to run another Yorkshire company. None has been charged with any criminal offence.
Meanwhile, the DTI is petitioning for Hinchliffe's bankruptcy after his failure to pay the costs of a 1998 High Court case when he was banned from acting as a director for seven years following the collapse of a sports company.
On 20 April, at another hearing, the SFO will attempt to gain a confiscation order over Hinchliffe's assets, with the threat of a further jail term if he does not comply.
Hinchliffe still controls a 38 per cent stake in Hull City and, if proven to have acted as a director, he could be jailed for a further two years for contempt of court.
