back to article Guilty! Four blokes conned banks in £160m fibre broadband scam

Four men in the UK have been found guilty of swindling Barclays Bank and Belgian banking group KBC out of £160m in a super-fast broadband scam. Total Asset Finance Ltd (TAF), which went into administration in 2011, had been working with H2O Networks to roll out fibre optic cables across Blighty. H2O supplied fibre-optic …

  1. Prst. V.Jeltz Silver badge

    sounds like a great movie!

  2. Bogle

    if you need a business loan

    I'd never heard of KBC so I looked them up. Perhaps I could just leave this here?

  3. Doc Ock

    A few minutes ago the Police revealed the names of the four held in custody:

    BT, Talktalk, Sky and Virgin.

    Apparently Talktalk sang like a bird, BT was also charged with resiting arrest, Sky was found to be high up on apprehension and Virgin was reluctant to own up (to being one).

    1. Alistair Silver badge

      @Doc Ock

      Was virgin wearing it's beard disguise again?

      1. Doc Ock

        Re: @Doc Ock

        >Was virgin wearing it's beard disguise again?

        My police sources can confirm that, however rest assured they did meter out a jolly good bit of police brutality when apprehending the suspect:,fl_lossy,q_80/virgin-com-prod/sites/

        They also add that they pissed in the tea.

        1. Crazy Operations Guy

          Re: @Doc Ock

          That has got to be the ugliest URL I have ever seen...

  4. frank ly Silver badge

    Planning ahead

    If you borrow money, someone will want it back one day. Were they detected before they had a chance to grow beards and dye their hair and run away with it? What was their plan?

    1. DougS Silver badge

      Re: Planning ahead

      If they did it over a three year period, it sounds like they had plenty of time to flee the country and disappear. They were too greedy.

      1. P. Lee Silver badge

        Re: Planning ahead

        Best send it all to Russia and claim you were hacked.

  5. Herby Silver badge

    Two words...

    Equity Funding.

    As the saying goes: "To err is human, to really foul things up requires a computer."

  6. Flakk Silver badge

    Stringing cabling through the sewer.

    Perhaps their punishment should be to personally make good on their fraudulent business model?

  7. Old Shoes

    In this 2008 article H2O is mentioned, heralding their project, along with a comment from the recently cleared Elfred Thomas:

    In this 2011 article they are mentioned as running into problems and being investigated by SFO:

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