Millionaire faces jail for fake bomb detectors
Source: AFP |
April 24, 2013, Wednesday
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Print Edition
Print Edition
A British millionaire is facing jail after he was convicted yesterday of selling fake bomb detectors to Iraq and other countries.
James McCormick, 56, was found guilty of three counts of fraud at London's Old Bailey court for selling completely ineffective devices based on an American novelty golf ball finder.
McCormick made an estimated 50 million pounds (US$76 million) from sales of his three models to customers that included Iraq, Belgium and the United Nations for use in Lebanon. "The devices did not work and he knew they did not work," prosecutor Richard Whittam told jurors.
"And despite the fact they did not work, people bought them for a handsome but unwarranted profit."
McCormick was bailed until his sentencing on May 2. He shook his head as the verdicts were delivered. The businessman is believed to have made around 37 million pounds from sales to Iraq alone.
James McCormick, 56, was found guilty of three counts of fraud at London's Old Bailey court for selling completely ineffective devices based on an American novelty golf ball finder.
McCormick made an estimated 50 million pounds (US$76 million) from sales of his three models to customers that included Iraq, Belgium and the United Nations for use in Lebanon. "The devices did not work and he knew they did not work," prosecutor Richard Whittam told jurors.
"And despite the fact they did not work, people bought them for a handsome but unwarranted profit."
McCormick was bailed until his sentencing on May 2. He shook his head as the verdicts were delivered. The businessman is believed to have made around 37 million pounds from sales to Iraq alone.
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