A pilot and his money are soon parted.....
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A pilot and his money are soon parted.....
here is a recent article that strongly suggests that pilots should stick to flying aircraft, drinking beer and TRUSTING NOBODY with hard earned $$$$$$$.( The name of the airline pliot concerned has been zapped to protect privacy)
NICK Ross, the helicopter pilot who famously gave Kerry Packer a few more years of life by donating a kidney, has lost his life savings in an apparent scam.
A Sydney court heard yesterday that Gregory Jordy Hare, one of Mr Ross's most trusted friends, stole nearly $2 million the former Channel Nine pilot earned working with the late media baron.
Mr Hare, a 40-year-old banker who was to be Mr Ross's best man at his wedding on Hayman Island in April this year, was arrested in the northern Sydney suburb of Roseville following a lengthy investigation by detectives from nearby Chatswood.
Mr Ross's wedding to Karin Lee, a former executive secretary at the Packer family's ACP magazine publishing business, has been postponed.
Mr Hare, a father of four, was charged with 40 counts of fraud committed against Mr Ross and others, including a Qantas pilot and one of his children's teachers.
Police claimed in Hornsby Court that the alleged frauds netted Mr Hare $2.2 million.
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"The police have informed me of Mr Hare's arrest," Mr Ross said from his Sydney home yesterday.
"The matter is now in the criminal courts and I can't comment any further."
Mr Ross, 64, donated a kidney to the billionaire Packer in 2000. It is unclear how much money Mr Ross received in return but Packer, who died on Boxing Day last year, ensured his former pilot had a comfortable retirement.
The statement of facts tendered to the court alleged that between August 2003 and April this year Mr Ross gave Mr Hare more than $1.9 million to buy shares in gold, oil and copper.
Police allege Mr Ross and one of his navy colleagues Keith Logan met Mr Hare for financial advice when the pair was attempting to establish a national helicopter rescue program.
The Australian understands the program involved the purchase of the world's biggest helicopter, a Russian MI-26, which can carry 20 tonnes of water in a bucket beneath it. The plan was to use the helicopter in relief and rescue operations around Australia in times of bushfire, floods and civil strife.
The fact sheet said Mr Ross and Mr Logan approached Mr Hare at the investment bank Investec for help to finance the helicopter rescue program.
Police allege that in early 2003 Mr Hare was experiencing financial difficulties, and began a course of fraudulent dealings with Mr Ross by pretending to buy gold options on his behalf that earned quick returns.
Mr Hare was instead depositing the investment money into his own personal bank accounts, the police alleged, with no gold or options ever purchased.
In May last year, while Mr Hare and Mr Ross were having a celebratory dinner, happy with their allegedly phantom gold investments, police claim Mr Hare said the gold trading was about to lead to a $28 million profit.
The Australian understands the alleged fraud came unstuck last year when Mr Ross ordered two Porsche cars and tried to pay for them with the pair's joint venture account. It was then he discovered there were insufficient funds.
In December last year, Mr Ross took civil action in the Federal Court of Australia, resulting in Mr Hare being declared a bankrupt. He was ordered to pay back the money to Mr Ross.
But police allege Mr Hare continued to act fraudulently after being declared bankrupt.
It is understood that Mr Ross used his contacts at the Royal Prince Alfred Hospital, where he underwent the Packer kidney transplant, to help Mr Hare with expert medical treatment for one of his children, who had a life-threatening condition.
Mr Hare, whose children attend exclusive Sydney north shore schools, was refused bail and remanded to appear on 16 June.
It is claimed he first contacted Mr Ross in June 2003, telling him he had bought some gold options worth $100,000. He allegedly told Mr Ross he had sold a property in Melbourne, but the funds were not available.
As a result, he offered Mr Ross an interest of half of the gold options for $50,000. Mr Ross accepted the offer and in August of that year he received $60,500 in return for his initial investment of $50,000. Police allege the $60,500 was in fact defrauded from another victim and friend of Mr Hare's, Qantas pilot "xxxxxxx xxxxxxxxx".
It is alleged that over a number of months Mr Hare continued to take large investments from Mr Ross, telling him that Ord Minnett brokers had offered him options to invest in gold.
It is alleged this pattern continued over many months and, at one point, Mr Ross sold a property at Church Point on Sydney's northern beaches and forwarded a cheque of $549,722 to Mr Hare to invest in gold.
Police say the accused deposited it into his personal Westpac bank account.
In early 2004, Mr Ross suggested to Mr Hare that they set up a company to keep relevant paperwork, as Mr Ross believed they were dealing in millions of dollars. It is alleged Mr Hare set up a company bank account in the Sydney north shore suburb of Northbridge from their own individual accounts and called the company NRGH Nominees - named after the men's initials.
Police allege that Mr Ross forwarded two cheques of $250,000 each from his superannuation fund, made payable to NRGH Nominees, with a view to investing in shares.
Police allege no shares were bought and Mr Hare later transferred both cheques for his own personal use.
NICK Ross, the helicopter pilot who famously gave Kerry Packer a few more years of life by donating a kidney, has lost his life savings in an apparent scam.
A Sydney court heard yesterday that Gregory Jordy Hare, one of Mr Ross's most trusted friends, stole nearly $2 million the former Channel Nine pilot earned working with the late media baron.
Mr Hare, a 40-year-old banker who was to be Mr Ross's best man at his wedding on Hayman Island in April this year, was arrested in the northern Sydney suburb of Roseville following a lengthy investigation by detectives from nearby Chatswood.
Mr Ross's wedding to Karin Lee, a former executive secretary at the Packer family's ACP magazine publishing business, has been postponed.
Mr Hare, a father of four, was charged with 40 counts of fraud committed against Mr Ross and others, including a Qantas pilot and one of his children's teachers.
Police claimed in Hornsby Court that the alleged frauds netted Mr Hare $2.2 million.
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"The police have informed me of Mr Hare's arrest," Mr Ross said from his Sydney home yesterday.
"The matter is now in the criminal courts and I can't comment any further."
Mr Ross, 64, donated a kidney to the billionaire Packer in 2000. It is unclear how much money Mr Ross received in return but Packer, who died on Boxing Day last year, ensured his former pilot had a comfortable retirement.
The statement of facts tendered to the court alleged that between August 2003 and April this year Mr Ross gave Mr Hare more than $1.9 million to buy shares in gold, oil and copper.
Police allege Mr Ross and one of his navy colleagues Keith Logan met Mr Hare for financial advice when the pair was attempting to establish a national helicopter rescue program.
The Australian understands the program involved the purchase of the world's biggest helicopter, a Russian MI-26, which can carry 20 tonnes of water in a bucket beneath it. The plan was to use the helicopter in relief and rescue operations around Australia in times of bushfire, floods and civil strife.
The fact sheet said Mr Ross and Mr Logan approached Mr Hare at the investment bank Investec for help to finance the helicopter rescue program.
Police allege that in early 2003 Mr Hare was experiencing financial difficulties, and began a course of fraudulent dealings with Mr Ross by pretending to buy gold options on his behalf that earned quick returns.
Mr Hare was instead depositing the investment money into his own personal bank accounts, the police alleged, with no gold or options ever purchased.
In May last year, while Mr Hare and Mr Ross were having a celebratory dinner, happy with their allegedly phantom gold investments, police claim Mr Hare said the gold trading was about to lead to a $28 million profit.
The Australian understands the alleged fraud came unstuck last year when Mr Ross ordered two Porsche cars and tried to pay for them with the pair's joint venture account. It was then he discovered there were insufficient funds.
In December last year, Mr Ross took civil action in the Federal Court of Australia, resulting in Mr Hare being declared a bankrupt. He was ordered to pay back the money to Mr Ross.
But police allege Mr Hare continued to act fraudulently after being declared bankrupt.
It is understood that Mr Ross used his contacts at the Royal Prince Alfred Hospital, where he underwent the Packer kidney transplant, to help Mr Hare with expert medical treatment for one of his children, who had a life-threatening condition.
Mr Hare, whose children attend exclusive Sydney north shore schools, was refused bail and remanded to appear on 16 June.
It is claimed he first contacted Mr Ross in June 2003, telling him he had bought some gold options worth $100,000. He allegedly told Mr Ross he had sold a property in Melbourne, but the funds were not available.
As a result, he offered Mr Ross an interest of half of the gold options for $50,000. Mr Ross accepted the offer and in August of that year he received $60,500 in return for his initial investment of $50,000. Police allege the $60,500 was in fact defrauded from another victim and friend of Mr Hare's, Qantas pilot "xxxxxxx xxxxxxxxx".
It is alleged that over a number of months Mr Hare continued to take large investments from Mr Ross, telling him that Ord Minnett brokers had offered him options to invest in gold.
It is alleged this pattern continued over many months and, at one point, Mr Ross sold a property at Church Point on Sydney's northern beaches and forwarded a cheque of $549,722 to Mr Hare to invest in gold.
Police say the accused deposited it into his personal Westpac bank account.
In early 2004, Mr Ross suggested to Mr Hare that they set up a company to keep relevant paperwork, as Mr Ross believed they were dealing in millions of dollars. It is alleged Mr Hare set up a company bank account in the Sydney north shore suburb of Northbridge from their own individual accounts and called the company NRGH Nominees - named after the men's initials.
Police allege that Mr Ross forwarded two cheques of $250,000 each from his superannuation fund, made payable to NRGH Nominees, with a view to investing in shares.
Police allege no shares were bought and Mr Hare later transferred both cheques for his own personal use.
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There's never any shortage of suckers. Read about scams like this every other week in the newspapers. People never learn.
I know a few guys praying they can fly past 60 because they've taken big risks and bombed out.
I know a few guys praying they can fly past 60 because they've taken big risks and bombed out.
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Think about this.
If you earn easy money and plenty of it, what's the big deal with taking on a risky investment every now and then. When it turns to shi#, everyone uses the old cliches "there's one born every minute" or "if it looks too good to be true then it probably is" but hey, it's only money. The majority of airline pilots have got plenty. $160,000 pa for a lousy 80-90 hours a month, 10 months a year is good remuneration.
Plus you must have money to start with:-
$120,000 ++ for CPL+IR, $30,000 ++ for A320\B737 endorsement, $2000 ++ for airfares,timeoff work and accomodation to attend interviews and they're just the basics.
Now I know I'll get a thrashing from all the blokes who did it tough,you know, "Mum & Dad didn't put me through my flying", "I had to do it tough working three jobs and two on the week-ends" lot. But you guys have got too much money too, to squander all that hard earned cash on getting a pilot's licence. Think of the returns you could have made by investing that $170,000 ++ into real estate or the stock market.
BUT...........Oh yes, I forgot, another classic pilot cliche................. "I just love flying !!"
Gimme a break
If you earn easy money and plenty of it, what's the big deal with taking on a risky investment every now and then. When it turns to shi#, everyone uses the old cliches "there's one born every minute" or "if it looks too good to be true then it probably is" but hey, it's only money. The majority of airline pilots have got plenty. $160,000 pa for a lousy 80-90 hours a month, 10 months a year is good remuneration.
Plus you must have money to start with:-
$120,000 ++ for CPL+IR, $30,000 ++ for A320\B737 endorsement, $2000 ++ for airfares,timeoff work and accomodation to attend interviews and they're just the basics.
Now I know I'll get a thrashing from all the blokes who did it tough,you know, "Mum & Dad didn't put me through my flying", "I had to do it tough working three jobs and two on the week-ends" lot. But you guys have got too much money too, to squander all that hard earned cash on getting a pilot's licence. Think of the returns you could have made by investing that $170,000 ++ into real estate or the stock market.
BUT...........Oh yes, I forgot, another classic pilot cliche................. "I just love flying !!"
Gimme a break
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Well that certainly counts as one of the most terminally stupid posts I have ever read.
Ask anybody who invested in real estate in the UK back in the '80s how their luck went. Many ended up with negative equity that they still haven't paid off. Many others ended up bankrupt. Same goes for the stock market.
There is an apt old adage that applies perfectly to the last poster:
"Better to remain silent and be thought a fool, than to speak and remove all doubt".
Ask anybody who invested in real estate in the UK back in the '80s how their luck went. Many ended up with negative equity that they still haven't paid off. Many others ended up bankrupt. Same goes for the stock market.
There is an apt old adage that applies perfectly to the last poster:
"Better to remain silent and be thought a fool, than to speak and remove all doubt".
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That certainly is particularly dumb post all right jack. You're quite right, my folks didn't put up the cash, I worked all kinds of sh*t jobs, and it took a few years to get up to some decent money. If it's such an overpaid sinecure why aren't you doing it yourself? Why don't you let us in on it and tell us what you do for a crust, or are you a failed pilot?
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skol I never said that airline pilots were overpaid for doing very little. What I did say was that the majority have got plenty of money and it is easily earnt. You have admitted to getting decent money. Lot of people out here doing it very hard at the moment and they don't have money to waste on "investments". Some pilots do have the resources to "dabble" in the odd to good to be true investment that's why there are so many that get stung.
MOR you are absolutely correct, so I guess you won't be speaking anymore from now on.
MOR you are absolutely correct, so I guess you won't be speaking anymore from now on.
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I have placed this article as a sober reminder to us all that not everyone in the world has the integrity and trust that we expect from our fellow workmates.
Use it as a lesson AND LEARN FROM anOTHER'S MISTAKE. Please don't let it degenerate into a slanging match; it might confirm that some in our profession are indeed being paid money that it beyond their education and interlect.
Use it as a lesson AND LEARN FROM anOTHER'S MISTAKE. Please don't let it degenerate into a slanging match; it might confirm that some in our profession are indeed being paid money that it beyond their education and interlect.
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Jack,
Good idea to zip it up.
Impression I get is that you've got some kind of chip on your shoulder and I notice that you still don't tell us what you do. I do earn decent money, I'm in my mid 50's. Like I said if you're doing it so hard and we've got it so good there are plenty of flying schools around.
Any suggestion that pilots are a group of financial losers with too much money is absolute nonsense. Some do lose their money but so do doctors, dentists, and check out how many accountants and solicitors are in jail.
Some very savvy people sometimes lose their shirts through greed so leave out the connection between pilots and financial misadventure.
Good idea to zip it up.
Impression I get is that you've got some kind of chip on your shoulder and I notice that you still don't tell us what you do. I do earn decent money, I'm in my mid 50's. Like I said if you're doing it so hard and we've got it so good there are plenty of flying schools around.
Any suggestion that pilots are a group of financial losers with too much money is absolute nonsense. Some do lose their money but so do doctors, dentists, and check out how many accountants and solicitors are in jail.
Some very savvy people sometimes lose their shirts through greed so leave out the connection between pilots and financial misadventure.
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Probably an excellent topic, a timely reminder to us all to watch our cash and not do stupid things with it, like giving it to your friends to manage.
If you fancy a stress free dignified retirement then think carefully.
I knew a guy that bought a herd of deer when they were a trendy commodity, and sent them to a friends farm. He received regular updates on his herd and thing were going so well he thought he would drive down to look them over. When he arrived, his 'friend' had sold his deer, sold the farm and disappeared with the dough.
Stories like this are endless and appear in the newspapers weekly. If there is any group of individuals that have a tendency to blow their cash it's sports stars.
If they put it in the bank and left it many could play golf for the rest of their lives but for some reason they fancy themselves as businessman.
In the US where I spend several days a month, riches to rags stories are common. The other day I watched former basketball star Charles Barkley admit on TV to losing US$10 million gambling but still not thinking he had a problem.
If you fancy a stress free dignified retirement then think carefully.
I knew a guy that bought a herd of deer when they were a trendy commodity, and sent them to a friends farm. He received regular updates on his herd and thing were going so well he thought he would drive down to look them over. When he arrived, his 'friend' had sold his deer, sold the farm and disappeared with the dough.
Stories like this are endless and appear in the newspapers weekly. If there is any group of individuals that have a tendency to blow their cash it's sports stars.
If they put it in the bank and left it many could play golf for the rest of their lives but for some reason they fancy themselves as businessman.
In the US where I spend several days a month, riches to rags stories are common. The other day I watched former basketball star Charles Barkley admit on TV to losing US$10 million gambling but still not thinking he had a problem.
