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Oops.....

Started by Trevor, November 12, 2014, 06:41:44 AM

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Trevor

I was wondering when this was going to come out....

www.fin24.com/Companies/Industrial/Construction-firms-face-collusion-charges-20141112

Seems the 2010 Soccer World Cup was an own goal:  :buggedout: :buggedout:
We shall meet in the place where there is no darkness.

BoyScoutKevin

Quote from: Trevor on November 12, 2014, 06:41:44 AM
I was wondering when this was going to come out....

www.fin24.com/Companies/Industrial/Construction-firms-face-collusion-charges-20141112

Seems the 2010 Soccer World Cup was an own goal:  :buggedout: :buggedout:

The problem is, like here, it is more lucrative to cheat and get caught cheating and pay a fine, then it is not to cheat. While the fine for price fixing is $140,000,000, and that is a large fine, South Africa poured $2,000,000,000 into the construction. Thus, the construction companies walked away with some $1,860,000,000, more or less, from the construction work, after the fine is paid.

What they have started doing here in this form of white collar crime is not only pay a fine, which the criminals often shrug off, but also sentence that includes mandatory jail time of several years. That seems to have started making the criminals sit up and take notice of the seriousness of their crime.

But, the good news is, with a fine that big, is it enough to buy everyone in South Africa a new pair of underpants, as there seem to be some people there, who shall remain nameless, who can't afford to buy their own underpants?