Originally Posted by
Blackout
Another twist in the Virgin Australia saga. According to the linked article, Ill Deuche borrowed the $150m from Velocity Rewards back in 2014. The plot thickens. Seems like Borghetti’s creative accounting tricks are being revealed. A loan of that nature would have been sanctioned by the Board. And I wonder exactly when was the money borrowed and applied to the VA business? Wouldn’t have been done just before the annual report by chance, to make VA’s bottom line look healthier than it actually was?? This mess smells worse by the day.