Theodolite Posted August 27, 2010 Share Posted August 27, 2010 Fugitive who turned justice into a circus Seventeen years ago tycoon Asil Nadir left the UK in a private jet leaving thousands of creditors and shareholders out of pocket. This reminds me of the Isle of Man Savings and Investment Bank (SIB) fiasco when one of the major players hired a Learjet at Ronaldsway to take him and presumably his stuffed suitcases to Spain. I'm not sure if Gil is still alive or not. Anyone here remember his antics and various schemes? . Link to comment Share on other sites More sharing options...
MilitantDogOwner Posted August 27, 2010 Share Posted August 27, 2010 When he was interviewed for Sky News on his return flight (private jet) to the UK he was asked why he disappeared to Cyprus 17 years ago and was it connection with the allergations made against him. He responded by saying he feared for his health. Are hospitals better in Cyprus than the UK? Link to comment Share on other sites More sharing options...
gazza Posted August 27, 2010 Share Posted August 27, 2010 When he was interviewed for Sky News on his return flight (private jet) to the UK he was asked why he disappeared to Cyprus 17 years ago and was it connection with the allergations made against him. He responded by saying he feared for his health. Are hospitals better in Cyprus than the UK? you know he was ment to say wealth!! Link to comment Share on other sites More sharing options...
Vulgarian Posted August 28, 2010 Share Posted August 28, 2010 Not exactly the zenith of his career. Link to comment Share on other sites More sharing options...
T.I.N.G. Posted August 28, 2010 Share Posted August 28, 2010 I heard he is very poorly and the Cypriot health scheme is pants. Funny that he waited for a tory government to return before he did. Link to comment Share on other sites More sharing options...
P.K. Posted August 28, 2010 Share Posted August 28, 2010 He responded by saying he feared for his health. Are hospitals better in Cyprus than the UK? Cyprus and Madeira are known for having the most healthy climates in Europe. Fancy not knowing that... Link to comment Share on other sites More sharing options...
Theodolite Posted September 4, 2010 Author Share Posted September 4, 2010 The main similarity of the Asil Nadir Poly Peck matter with the SIB case is time. During the investigation by the Inspectors into the SIB it was made clear that there were activities of a criminal nature going on, as if it wasn't obvious, but the procedures had to be carried out. By the time the report was published and a bit more fannying about after that the matter didn't come to Court for over 8 years. By then it was considered too late to do anything, 'memories would have become foggy' and all that. Case dismissed. The sighs of relief were audible beyond the Irish Sea. It is not unlikely that the defence case for Asil Nadir will cite the Savings and Investment Bank (Isle of Man). Link to comment Share on other sites More sharing options...
bellyup Posted November 27, 2010 Share Posted November 27, 2010 The main similarity of the Asil Nadir Poly Peck matter with the SIB case is time. During the investigation by the Inspectors into the SIB it was made clear that there were activities of a criminal nature going on, as if it wasn't obvious, but the procedures had to be carried out. By the time the report was published and a bit more fannying about after that the matter didn't come to Court for over 8 years. By then it was considered too late to do anything, 'memories would have become foggy' and all that. Case dismissed. The sighs of relief were audible beyond the Irish Sea. It is not unlikely that the defence case for Asil Nadir will cite the Savings and Investment Bank (Isle of Man). Did the depositors in SIB ever get their money back? Link to comment Share on other sites More sharing options...
Pragmatopian Posted November 29, 2010 Share Posted November 29, 2010 The main similarity of the Asil Nadir Poly Peck matter with the SIB case is time. During the investigation by the Inspectors into the SIB it was made clear that there were activities of a criminal nature going on, as if it wasn't obvious, but the procedures had to be carried out. By the time the report was published and a bit more fannying about after that the matter didn't come to Court for over 8 years. By then it was considered too late to do anything, 'memories would have become foggy' and all that. Case dismissed. The sighs of relief were audible beyond the Irish Sea. It is not unlikely that the defence case for Asil Nadir will cite the Savings and Investment Bank (Isle of Man). Did the depositors in SIB ever get their money back? Most depositors got about a quarter of their deposits back, and the government made further payments to the small depositors. SIB precipitated significant reform of regulation on the Island, including the creation of the Depositors' Compensationn Scheme Link to comment Share on other sites More sharing options...
tonythetash Posted November 29, 2010 Share Posted November 29, 2010 When he was interviewed for Sky News on his return flight (private jet) to the UK he was asked why he disappeared to Cyprus 17 years ago and was it connection with the allergations made against him. He responded by saying he feared for his health. Are hospitals better in Cyprus than the UK? They probably are if you can believe the news! Link to comment Share on other sites More sharing options...
bellyup Posted November 29, 2010 Share Posted November 29, 2010 The main similarity of the Asil Nadir Poly Peck matter with the SIB case is time. During the investigation by the Inspectors into the SIB it was made clear that there were activities of a criminal nature going on, as if it wasn't obvious, but the procedures had to be carried out. By the time the report was published and a bit more fannying about after that the matter didn't come to Court for over 8 years. By then it was considered too late to do anything, 'memories would have become foggy' and all that. Case dismissed. The sighs of relief were audible beyond the Irish Sea. It is not unlikely that the defence case for Asil Nadir will cite the Savings and Investment Bank (Isle of Man). Did the depositors in SIB ever get their money back? Most depositors got about a quarter of their deposits back, and the government made further payments to the small depositors. SIB precipitated significant reform of regulation on the Island, including the creation of the Depositors' Compensationn Scheme Thanks I heard that they only got 23 pence in the pound back which is about right and millions was eaten up in liquidators fees. Since the KSF fiasco the depositors have been contacted by sad sories from SIB depositors some whose lives were effectively ruined in the same way as the KSFION depositors. I only wish that i had heard about the SIB before - it was certainly kept very quiet. Link to comment Share on other sites More sharing options...
Gladys Posted December 2, 2010 Share Posted December 2, 2010 I don't think SIB was hushed up at all. Link to comment Share on other sites More sharing options...
Manxman2000 Posted December 3, 2010 Share Posted December 3, 2010 I don't think SIB was hushed up at all. The SIB case was all over the TV like a rash Link to comment Share on other sites More sharing options...
bellyup Posted December 3, 2010 Share Posted December 3, 2010 I don't think SIB was hushed up at all. The SIB case was all over the TV like a rash Really I wish i had heard of it. Link to comment Share on other sites More sharing options...
censorship Posted December 3, 2010 Share Posted December 3, 2010 it was certainly kept very quiet. No it wasn't, not even slightly. and how would knowing about SIB have influenced your decision to stash your cash offshore? What parallels are there between the SIB and KSF cases? Link to comment Share on other sites More sharing options...
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