George Lee (Dublin South, Fine Gael)

I refer to the company law (consolidation and reform) Bill. Yesterday in the United States, a major fraudster, Bernie Madoff, was jailed for 150 years for a $65 billion fraud. I am struck by the fact that, in terms of Irish company law, it takes so long to bring anybody to justice. Bernie Madoff was in handcuffs and in jail within two months of the discovery of this fraud. An action relating to National Irish Bank is going through our courts at the moment, ten years after the event.

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