opes prime

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    This will make all the victims feel so much better!!!

    From "The Australian" online.

    THE chief executive of collapsed finance group Opes Prime has been sentenced to a minimum 12 months in jail for three charges of dishonesty relating to the company's demise in 2008.

    In sentencing Lirim (Laurie) Emini, 48, Victorian Supreme Court Justice David Beach said the two charges of using his position dishonestly for personal gain and one of acting recklessly in his position as a company director carried a maximum penalty of up to five years in prison and a fine of up to $220,000 for each offence.

    However, while describing the breaches as ``a serious example of each offence'', Justice Beach said Emini was entitled to a reduced sentence due to his guilty plea, the substantial assistance he had given investigators and his own circumstances, including bankruptcy and severe depression.

    The collapse of the lending and securities company left creditors with $630 million owing.

    Emini, who had been free on bail since the case began, was sentenced to a maximum of 24 months in prison, with an order to be released after 12 months.

    Fellow Opes director Anthony Blumberg, 43, was also sentenced to a maximum of 12 months in prison with an order to be released in six months after pleading guilty to dishonestly using his position to obtain an advantage.

    Justice Beach said he also took Mr Blumbergs guilty plea and assistance to prosecutors into account when deciding the sentence.

    Mr Blumberg's sentence was backdated to July 18, when he was placed on remand after declining to apply for bail.

    Both men were taken into custody following the hearing to begin their sentences, although the court heard they will each appear again on August 15 to give evidence against fellow Opes director Julian Smith, who has pleaded not guilty to charges relating to the company's collapse.

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