Sean Quinn Jailed For Contempt Of Court
Sean Quinn Senior has been jailed for failing to comply with a court order to overturn a multimillion-euro asset-stripping plot.
A judge at Dublin's High Court said she had no choice but to sentence the former-tycoon to nine weeks in prison.
This summer, Mr Quinn, his son Sean Junior and nephew Peter Darragh Quinn were ordered not to put the family's 500 million euro (£400m) fortune beyond the reach of the former Anglo Irish Bank.
But although the 66-year-old initially avoided prison, Ms Justice Elizabeth Dunne said Mr Quinn had committed a serious contempt of court by not reversing the scheme.
She described his attitude as evasive and unco-operative, adding that with regards to the jail sentence "he has only himself to blame".
The founder of Quinn Insurance, who also owned an international property empire, declared himself bankrupt last year over debts of 2.8bn euro (£2.24bn) to the now-nationalised Anglo bank.
He racked up huge losses on secret stock investments in the bank as its share price collapsed.
The family admit they owe 455m euros (£364m) to the bank - rebranded the Irish Bank Resolution Corporation - but deny owing the rest and have launched a counter-case.
Mr Quinn Jr was freed from prison two weeks ago after serving a three-month sentence for contempt of court, while Darragh Quinn has avoided going to prison to date, despite a similar sentence imposed in July.
what do you think?
oh yeah?? he looks really woried .......... does he not ?? does anyone really belive he will get his JUST DESERTS? ... i think not either
This type of manoeuvre is normal practice in business. If you know your business is in trouble move all the assets you can and then go bankrupt, ready to start up again when the dust is settled. The sad thing is that due to the low level of legal deterrent, most people usually get away with it especially if there are big numbers involved.
9 weeks in chokey or hand over 400 million - tough call,.................err not
9 weeks in jail which he will serve in a nice open prison. And probably serve half that. And with the money safely out of the country he cheerfully waves two fingers at the court which has shown itself to be sadly impotent