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To: Arcane Lore who wrote (6345)	9/19/1998 11:07:00 AM
From: Graystone	Read Replies (1) \| Respond to of 26163

Bankrupt Fraudsters or Not Always Honest On a related note to your post, but off topic for this thread is this article from the Times. You may require membership to access the Times but it is free. Often when fraudsters are caught, they knew that it would happen and don't care, Huttoe is a perfect example of this. The money stolen is often walked across the street and disappears forever. This fraudster is a typical, if profligate, type, lying to the judge is not always wise, but I am sure it pays handsomely. sunday-times.co.uk:80/cgi-bin/BackIssue?2584030 Bankrupt tycoon is jailed for secrecy BY TIM JONES ONCE he lived a life of enviable luxury, but yesterday Terry Ramsden began a jail sentence for failing to disclose his assets after being declared bankrupt. Glen International, which Ramsden, 46, had bought for œ18,000, had a turnover of œ3.5 billion in 1987. But within a year his company crashed, owing œ98 million. Ramsden, who is estimated to have lost œ58 million at the racetrack, was under a duty to disclose his assets to the Official Receiver or trustees in bankruptcy after the collapse of his business empire. However, an Old Bailey judge was told, he hid the fact that he had established a New York-based trust fund and owned three million shares in a Canadian oil and gas company. Henry Green, QC, for the prosecution, said that thousands of pounds were paid from the trust fund to his mother, Florence, a former cleaner, and to friends. The money was then passed on to Ramsden. Ramsden, of Fulham, southwest London, had escaped jail in November 1993, when he was given a two-year suspended sentence for a œ90 million fraud involving his trading activities with Glen International. He pleaded guilty to three charges of breaching the Insolvency Act. Judge Peter Beaumont, QC, jailed him for 21 months. Copyright 1998 The Times