Guilty ? - Australia - Twins 'sold non-existent buses for $44m'
New South Wales,Australia -AAP/NEWS.com.au - By Lisa Allan -Sept 04, 2006: -- THE twin brothers behind the failed King Brothers bus company received more than $44 million from a major bank for the sale of 144 buses that did not exist, a Sydney court has been told... New South Wales bus tycoons Peter and Anthony King signed a $100 million agreement with National Australia Bank (NAB) in December 2000 that included the sale of 144 non-existent buses, crown prosecutor Merv Grogan told the NSW District Court today... But lawyers for the Kings say the bank is trying to make them scapegoats following a “flawed” business decision by the NAB... The brothers have pleaded not guilty to defrauding the NAB of $44 million by “selling” 144 used Mercedes Benz buses that did not exist... The trial before Judge Helen Murrell resumes tomorrow...
Australia -ABC Online -4 Sept 2006: -- The owners of the failed Port Macquarie-based King Brothers bus company have gone on trial in Sydney, accused of defrauding a bank of $44 million for a fleet ...
posted by Unknown @ 4:05 PM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home