Thurrock Council - and "high rollers"

Local council to me (Northampton Borough Council) were basically bankrupted by giving the towns football club a £10 million loan to build a stand which between various parties involved in the club was laundered and vanished with about 1/4 of a stand built!

Some of the parties allegedly involved made donations to a Parliament election campaign for the councillor who was heavily involved in the loan being awarded in the first place.

Over a decade later still no one has been jailed over it and they’ve spent millions on the investigation chasing the missing millions!

 
Clearly this is fraud.
I cannot believe this is individuals in the council (senior ones) being dumb.

No doubt there was some share of the scam at some point.

As with national politics. There's no accountability. Only thing stopping this is moral compass. And you can buy a lot of moral compasses for millions!
 
This is literally how you become a multi millionaire/billionaire.

You convince other people you and your company are worth some made up amount of money/profit projection.

This is why the economy is such a load of ****. All of it is just fanciful made up figures built on debt and public money.

Not really, unlike the CFO at this local authority other institutional investors don't tend to be so gullible.

Why?

How is what he has done any different to other multi millionaires/billionaire business owners?

Well, he seems to have taken a direct investment and then just bought stuff for himself with it according to the article. His dodgy valuation based on some inflated electricity price they didn't get on average seems ethically dubious too.
 
Clearly this is fraud.
I cannot believe this is individuals in the council (senior ones) being dumb.

No doubt there was some share of the scam at some point.

As with national politics. There's no accountability. Only thing stopping this is moral compass. And you can buy a lot of moral compasses for millions!
Indeed.
Steal for a store and you will get a day in court.
Steal Millions and it seems you do not.
This disgusts me, utterly.
It is shameful, and such things are trickling down from above, corruption is spreading vastly more within the UK, so much more than for several decades.
In England you really need to do something about this.
In Northern Ireland we can't, as our population of mentally incompetent ******** are unfortunately utterly indoctrinated, and no one will take my advice to sterilise 60% of the population for the good of the rest a generation later.
Please do us a favour, as an anticorruption government, actually does trickle down, faster than ******** economic policies.
 
Local councils often have more ability to make life expensive and difficult for people than central government.
And yet most people deem them unimportant and pay little attention.

Felixstowe in Suffolk was (is) a reasonable size town, not the most attractive, especially in winter, but a decent size and with some fairly well paid jobs (port).
And yet they had no chain opticians for many years.
Why? One of the council members was himself an optician and basically managed to block any and every attempt for any of the optician chains to move into town.

Seems a bit short sighted.

Sorry for joking on such a serious topic. I worked in Felixstowe periodically throughout the seventies, dredging the new container docks. I enjoyed the town very much.
 
That’s the problem, we are asking local authorities to be experts in businesses/investment in a bid to generate a return (and make up for funds they’ve lost from central government). This is not what local authorities should be doing; they should be emptying bins, cutting grass, maintaining streets and pavements etc.
They are stewards of large amounts of public money. They obviously need to have some level of common sense when it comes to looking after it.
 
That’s the problem, we are asking local authorities to be experts in businesses/investment in a bid to generate a return (and make up for funds they’ve lost from central government). This is not what local authorities should be doing; they should be emptying bins, cutting grass, maintaining streets and pavements etc.

Their extra funds or financing ability should also be invested locally for the improvement of the residents. Regeneration of high streets to a modern form, improving deprived areas, building of business estates with the private sector to entice local high wage employment.
 
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