Office manager’s £550k cheque fraud lands £1 fine, $3.7bn Ponzi schemer gets 50 yrs. Go compare
Despite the manager having previous for stealing money by false accounting…
…but it was accompanied by a 4 year jail sentence.
Compared to recent frauds, this one’s a bit of a minnow but then so is the fine.
Tessa Phillips, 55, who was employed as an office manager at a hearing aid firm wrote out nearly £500k in company cheques to buy homes, holidays helicopter rides and expensive jewellery.
Daily Mail: She forged 170 cheques which she cashed in to secure two mortgages and enjoy trips to Barbados, Dubai and Mauritius.
Basic.
At the other end of the scale, in the US, a federal judge has sentenced a former Minnesota tycoon Tom Petters to 50 years in prison for his part in a Ponzi scheme that prosecutors said cost investors $3.7 billion.
Not quite in Bernie Madoff’s league — 150 years for ripping off an estimated $18 billion — but still, a notable criminal achievement. CBS,
