HIH Founder Ray Williams walks free

[trinity]

http://www.theaustralian.news.com.au/story/0,25197,23047675-601,00.html

... Williams is expected to be picked up by his wife, Rita, and driven to her $4 million luxury home in Seaforth on Sydney's lower north shore

He still has millions in assets but cannot be touched because he transferred them all to his wife ... while others continue to suffer.

 

[nioka]

http://www.theaustralian.news.com.au/story/0,25197,23047675-601,00.html



He still has millions in assets but cannot be touched because he transferred them all to his wife ... while others continue to suffer.

Under the law half the assets would have been her property anyway. Is he now her toy boy, a kept lover or just a handyman around the house. He can't be a company director for years yet. Will he go to Africa for investments?. I guess he did do his time though.

 

[Happy]

He cannot run the Co, but he can walk into one and have -mentoring capacity - read - running capacity.

Likely his wife was not at fault, but only if she earned money to get that mansion, she would have the right to still own it, otherwise it is OPM and if that's the case it stinks.

 

[trinity]

http://business.smh.com.au/disgraced-former-hih-boss-gets-a-cold-welcome/20080114-1ltv.html

He returned to suburban Seaforth, on Sydney's north shore, where his family owns several houses.

A nearby resident who identified himself only as John spoke briefly with reporters as they were waiting outside one of the properties.

"People lost their homes, my parents lost money, and he's got money squirrelled away everywhere and it makes me sick,'' John told reporters.

"If you have a look in the driveway he's got a lovely Ferrari in the garage,'' John said.

Victims don't think he has served enough time...

I can't remember which book I read, that says, CEOs and bosses have forgotten that they work for the company, they work for shareholders, they should value shareholders money...