Different types of white-collar crime

Business manager with Bank of Ireland, William Freeland, has been jailed for four and a half years for stealing €3 million from the bank.

Between 2004 and 2009 Freeland set up fake accounts through which he stole the money. He would then open up more accounts to repay the loans taken from the previous accounts.

We can tell from this that Irish authorities do operate some sort of justice system for dealing with white-collar crime, which raises the following questions.

Why are those at Custom House Capital, who defrauded their clients of approximately €66 million in a similar type ponzi scheme, and at around the same time, still walking around as free citizens?

Why is it that the Irish Justice system can make the likes of Mr. Freeland accountable but are, apparently, completely incapable of bringing those bankers who destroyed the economy to justice?

1 thought on “Different types of white-collar crime”

  1. And why was Paul Begley given 6 years in jail for a crime involving a lesser sum? Or more properly, why was William Freeland not given a larger sentence?

    I find this aspect of the case fascinating:

    “Judge Nolan rejected an offer by the defence to use money inherited by Freeland’s wife to partially compensate the bank. The judge said he didn’t think it was appropriate to take his wife’s money and give it to the bank.”

    In light of the shenanigans going on with developers et al shifting money to spouses, children, cousins and random Ukranians, this is an interesting development.

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