Crims in £160m broadband scam facing 44 years of porridge

Four men, who conned Barclays Bank and Belgian banking group KBC out of £160m in a super fast broadband scam, have today been sentenced to a collective 44 years in the clink. The individuals presented bogus broadband contracts to the banks, which were tricked into issuing huge loans to H20 Networks through Total Asset Finance …

[Buzzword]

sewers for internet cables

Didn't Google already do that as an April Fool's joke? Ah yes, here we are: https://archive.google.com/tisp/install.html

[GrapeBunch]

If they only had caused a Global Financial Collapse, they might have got away with the fraud. Too bad for them, that role was already filled.

[Anonymous Coward]

How many years will BT get for swindling the tax payer out of millions for rural broadband?

[DrXym]

Refreshing

It's good to see white collar crims get lengthy prison sentences

[Diginerd]

Literal Prisoner's Dilemma

P,P,P,P

Just remember folks, Time = Money

Defraud a bank and you go to jail.

A bank defrauds you and the execs get bonuses.

[John Smith 19]

£160m split 4 ways over 10 years.

£4m/year.

Quite a lot of people would go to prison for that kind of money.

Given the facts they have admitted no responsibility and have shown no remorse I think they will fit in quite well in prison.

Although blaming others rather that staying silent might have more consequences.

[P. Lee]

Re: £160m split 4 ways over 10 years.

Any news on what happened to the money?

Go to jail for 15 years, get £40m.

Apart from the moral issues, if you're single, that sounds like a good deal, even before you consider parole.

[HAL-9000]

Re: £160m split 4 ways over 10 years.

Lets just hope the assets recovery agency does a good job, and this kind of thing isn't seen to pay well.

[Pat Harkin]

That's a liitle unfair...

They only conned Barclays out of UP TO 160 million. That's the level of fraud to which they aspire, but individual customers may not experience that level of loss due to local restrictions.