[Rosscoe]

http://www.news.com.au/story/0,23599...30-421,00.html


Bon Jovi fraudster jailed for 16 years

By Tim Dornin

March 18, 2008 12:07pm
Article from: AAP

A MAN, who took the name of a famous rock star to steal millions of dollars from finance companies, has been jailed for 16 years.

Romeo Pacifico, who changed his name to Richard Sambora, the same as the famed Bon Jovi guitarist, managed to obtain cash loans totalling $25 million.

The Adelaide man used the money to prop up his failing business and to fund a lavish lifestyle including the purchase of luxury homes and cars.

Over a four-year period from about 1998 to 2002, he engaged in an exercise of "robbing Peter to pay Paul", according to South Australian District Court Judge Wayne Chivell.

The judge said Pacifico was involved in string of fraud-related offences where he obtained money from finance companies supposedly for business expenses.

Some of the cash he used to pay off previous loans but Judge Chivell said of the $25,639,133 he obtained, the victims actually lost a total of more than $8 million.

The judge described the offending as premeditated, deliberate and calculated.

"It was stealing and stealing on a grand scale," he said.

Pacifico, 44, eventually pleaded guilty to 19 charges, most involving forged tax and bank statements and also asked the court to take into account another 17 offences.

On one of the counts he obtained more than $450,000 in 2001 and used it to pay off debts but also to buy four Ferraris, a Mercedes Benz and a BMW.

Judge Chivell said Pacifico had been "wilfully deluding himself" if he had believed during his offending that he could actually repay all his debts.

He said it was of particular concern that the man had also pleaded guilty to one count of deception in relation to $71,000 he obtained while on home detention bail for the earlier charges.

Such conduct, the judge said, meant a suspended sentence was out of the question.

Judge Chivell jailed Pacifico for 16 years with a non-parole-period of 10 years.

[Supersonic]

Aloha !

That must've been the reason why Bon Jovi didn't tour Australia for such a long time.

Salaam Aleikum,
Sebastiaan

[Rosscoe]

Bah! Maybe if more people did it, there would be more people who could afford their tickets

BTW, nice sig haha.

[Captain Walrus]

What sort of a name is Romeo Pacifico anyways?

[Goldsausage]

A name that would make you wanna change it to Richard Sambora.

[TheseDays2005]

LMFAO, that of course is the own fault of the bank (or whatever) who loaned the money in the first place. Surely the proper procedure for a cash loan (especcialy in that amount) includes a background check, further then just the name....

They guy should be cleared free and should get a bonus for showing how crappy the loaners worked....

[Thomas Anderson]

I like seeing people like this do well - when it's a crime that doesn't hurt anyone, when it's down to paperwork and stupidity, I wish them well. I remember seeing a case where an old couple were done for fraud because they faked some art pieces and sold them to museums and galleries - I say it's the stupid fault of the people who want to pay shitloads just for something they think is old/by someone famous, and for not checking it properly.

[Captain Walrus]

Originally Posted by Thomas Anderson

I like seeing people like this do well - when it's a crime that doesn't hurt anyone

Y'know, the money has to come from somewhere ....

[RichieW2001]

Originally Posted by Thomas Anderson

I like seeing people like this do well - when it's a crime that doesn't hurt anyone, when it's down to paperwork and stupidity, I wish them well. I remember seeing a case where an old couple were done for fraud because they faked some art pieces and sold them to museums and galleries - I say it's the stupid fault of the people who want to pay shitloads just for something they think is old/by someone famous, and for not checking it properly.

So a person who has it on good merit that a piece is real is right to lose thousands/hundreds of thousands/millions of pounds because somebody has acted dishonestly?

Why would you assume that a $25m bank fraud is a crime that doesn't hurt anybody? It's a crime that, if repeated over and over again, would bring the economy down. This guy wasn't trying to beat a loophole and prove a point; he was trying to get as rich as he possibly could fraudulently.

[RichieW2001]

Originally Posted by The Walrus

Y'know, the money has to come from somewhere ....

Thank you.

As if the world economy isn't delicate enough already, we have Neil thinking it's a great thing for banks to be losing $25m.