Four members of a family involved in a medical equipment distribution company that went into liquidation following what a judge labelled “an egregious and long-running fraud” have been disqualified from holding directorships.
The court had been asked to consider whether certain disqualification periods, agreed as part of a settlement between the four and liquidator George Maloney, were sufficient. He disclaimed all responsibility for fraud, although he acknowledged the failure to keep proper books and records. He appealed to the court not to declare him or his brother or sister personally responsible for the debts of the company, or to make a disqualification order against any of them.
They also agreed to accept judgments of €18 million against them subject to a stay on certain conditions.
So soft on white collar crime.