Hookers and booze: Your tax dollars at work

[water_icia]

http://www.thestar.com/news/article/881639--hookers-and-booze-your-tax-dollars-at-work

David Scenna is the alleged mastermind of fraud against Canada's small business loan plan

Millions of dollars in federal small business loan money was blown on prostitutes, booze, partying and fast cars. A Toronto Star investigation shows the department managing the program — Industry Canada — allows banks to loan money with lax or no controls.

In one case, at least 16 loans — more than $4 million doled out $250,000 at a time over eight years — were given to a loosely associated group of GTA businessmen whose leader’s past included bankruptcy and a poor credit rating.

The businessmen defaulted on each loan, but banks always approved another. Taxpayers’ money usually refunds banks when loans go into default.

 

[Zammo]

Tell us something that we have not heard before Herbie. Our government corrupt ? No, just the people that run it :.

 

[15 MoRe WkS 2 g0!!]

Not surprised. Hope heads will roll after this.

 

[geegee]

Reading the tittle thought it was going to be a fun thread :neutral:. Old news once again.

 

[Linkin Park is my Heart]

It never will. But if you screw goverment over $10 for your tax payments, they will come after you until they get it.

 

[Stevie]

Nice to see that the money was being to used to stimulate the economy as well as other things!