Eddy Groves

[Solly]

Here's a rather interesting article by Michael West from the SMH regarding Eddy Groves:

"The corporate watchdog that just won't bite"

"The kerfuffle over Eddy Groves is a PR job by the regulators and we, the media, are willing accomplices. The cowboy-boot-shod child-care king has yet to be charged with a single offence, though he's been in the press over the past few days as a "flight risk". "

http://business.smh.com.au/business/the-corporate-watchdog-that-just-wont-bite-20090628-d18h.html?page=1

I don't know much about the collapse of ABC but I'll be watching with interest with what lies ahead.

 

[Solly]

ABC Childcare founder Eddy Groves to face criminal charges

FALLEN childcare entrepreneur Eddy Groves is facing criminal charges relating to the collapse of his ABC Learning Centres empire.

More by Liam Walsh @ couriermail.com.au

http://www.couriermail.com.au/news/abc-childcare-founder-eddy-groves-to-face-criminal-charges/story-e6freon6-1225995703611

 

[Wysiwyg]

ABC became a stockmarket darling that ultimately collapsed owing creditors more than $2.7 billion. Mr Groves, 44, who once owned Ferraris and basketball team the Brisbane Bullets, left as chief executive months before the collapse.

Looks like the posse tracked him down. No Majorcan sojourn while the heat was on.

 

[Solly]

Childcare boss faces criminal charges

THREE years after the collapse of ABC Learning, its founder, Eddy Groves, and fellow executive Martin Kemp will appear in court today facing the first criminal charges stemming from the failure of the $3.5 billion childcare giant.

More by Ben Butler and Mark Hawthorne @ smh.com.au

 

[Tysonboss1]

So he took some big risks in the name of high growth, no one was complaining when it was paying off.

Why is it that when the wheels fall off a high risk high leverage investment vehicle whinge and want blood.

they chose to put the funds in.

 

[Dowdy]

So he took some big risks in the name of high growth, no one was complaining when it was paying off.

Why is it that when the wheels fall off a high risk high leverage investment vehicle whinge and want blood.

they chose to put the funds in.

I think because he wasn't being honest with his investors.

He claimed he was making profits when he wasn't

 

[Tysonboss1]

I think because he wasn't being honest with his investors.

He claimed he was making profits when he wasn't

I think anyone that managed to flick past the glossy pages of the annual report to the numbers could see the real story in black and white.

 

[jonnycage]

every dog will have its day, Your turn Eddie.

jc

 

[Solly]

Gloves off in $44m Eddy Groves lawsuit as focus on childcare entrepreneur's marriage to Le Neve

http://www.couriermail.com.au/business/gloves-off-in-44m-groves-lawsuit/story-fn7kjcme-1226219040754

Amazing allegations....

 

[Glen48]

How does a milk man get to be a mutli millionaire???
Besides taking the cream of the top.