Saif al-Islam Gaddafi after his capture, his fingers wrapped in bandages and his legs covered with a blanket

. Photograph: Reuters Tv/Reuters

Saif al-Islam Gaddafi, the fugitive son of Libya's deceased former dictator, has been arrested in southern Libya, according to officials from the country's new government.

Libyan state TV reported that Saif has arrived in captivity and unhurt at an army base in the town of Zintan, 90 miles south-west of Tripoli.

Muammar Gaddafi's second and highest-profile son was captured along with several bodyguards by fighters near the town of Obari in Libya's southern desert, said the interim justice minister and other officials.

Saif was said to be in good health, according to the justice minister Mohammed al-Alagi.

"We have arrested Saif al-Islam Gaddafi in [the] Obari area," the minister told Reuters.

Saif was captured near the southern city of Sabha with two aides trying to smuggle him out to neighbouring Niger, militia commander Bashir al-Tayeleb said.

Zintan, a base for forces in the Nafusa Mountains which played a key part in the storming of Tripoli in the summer, is reported to have crowds dancing in the streets and waving the Libyan flag.

There are reports that an angry mob tried to storm the plane on which Saif was taken to the western mountain town of Zintan, the home of one of the largest revolutionary brigades in Libya.

Gunfire is echoing across the capital, Tripoli, where large crowds have gathered in Martyrs' Square firing volleys of automatic fire in the air. "A great day, a great day," said Abdullah, a taxi driver, stuck in one of the traffic jams that built up around the square.

A Reuters reporter said a man who appeared to be Saif, but who refused to confirm his identity, was on a plane flown by militiamen to the town.

The man wore traditional robes with a scarf pulled over his face, but his features, visible despite a heavy black beard, as well as his rimless spectacles, conformed to pictures of the 39-year-old younger Gaddafi.

The man's thumb, index finger and another finger were heavily bandaged.

Libyan TV also showed him He is sitting by a bed and holding up three bandaged fingers as a guard looks on.

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An anti-British backlash gathered pace in Germany yesterday as David Cameron and Angela Merkel struggled to disguise the gulf between them on how to tackle the eurozone crisis.

 

An anti-British backlash gathered pace in Germany yesterday as David Cameron and Angela Merkel struggled to disguise the gulf between them on how to tackle the eurozone crisis. The Prime Minister returned from talks in Berlin with the German leader having made little progress in agreeing emergency action to stop the financial contagion spreading. Tensions were inflamed after a close ally of Ms Merkel predicted Britain would eventually adopt the euro. The German media joined the clamour, with the mass-circulation newspaper Bild questioning whether it might be better for Britain to leave the European Union altogether. Behind the leaders' smiles at a joint press conference yesterday, they acknowledged fundamental differences remained on three key issues: * New eurozone rules. Ms Merkel called for "limited" changes to European treaties to impose fiscal discipline on the single currency but stressed negotiations should only be for eurozone members. Mr Cameron wants Britain involved in the talks because of the potential impact of the decisions on the UK; * Whether the European Central Bank should intervene to support the eurozone. Ms Merkel – backed by the German public – is fiercely resisting the move, which she fears would fuel inflation. But Mr Cameron insisted that all the eurozone's institutions had to "do what is necessary to defend it"; * Taxing financial transactions within the EU. Ms Merkel supports the step but Mr Cameron fears it would disproportionately hit the City and said it would work only if applied globally. The Prime Minister said: "It is obvious we don't agree on every aspect of European policy, but I am clear we can address and accommodate and deal with those differences." He also stressed the two leaders were "very good friends" and "absolutely" in agreement on the importance of completing the single market, budget discipline and stopping EU spending from rising by more than inflation. But shortly before Ms Merkel also paid tribute to the "strong bonds of friendship" between the countries, her veteran Finance Minister used less diplomatic language in which he seemed to predict the end of sterling. Wolfgang Schäuble told the news agency DPA it was Britain's right to remain outside the eurozone "for the time being". But he said it was a matter of time before non-eurozone states became convinced of the euro's advantages. "One day the whole of Europe will have a single currency and perhaps it will happen more quickly than many people on the British island think," he said. Meanwhile, in an article headlined 'The Sick Empire', Der Spiegel magazine described Britain's plans to eradicate its budget deficit by 2015 as "utopian". It added: "The situation on the island is more dramatic than in parts of the continent. It's bad news nearly every day. "But the British government gets away with it by proclaiming carry-on-as-usual policies and by blaming its economic stagnation on the eurozone." The war of words between Berlin and London erupted on Tuesday after Volker Kauder, Ms Merkel's parliamentary party leader, lambasted Britain for being too self-centred on Europe. "Just looking for their own advantage and not being prepared to contribute – that cannot be the message we accept from the British," he told a congress of his ruling conservatives. The former Prime Minister, Sir John Major, weighed in behind Mr Cameron last night as he condemned the financial transaction tax as "a heat-seeking missile...aimed at the City of London". He also warned of an "undemocratic" move towards eurozone fiscal union. In an interview with Al Jazeera, he also predicted "one or two countries" would be forced to quit the euro.

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Virgin buys Northern Rock for £747m

 

Northern Rock has been sold to Virgin Money, for £747m, marking the first return to the private sector of a UK government-backed bank since the financial crisis. Virgin, the retail banking arm of Sir Richard Branson, will pay £747m in cash upfront – roughly half of the £1.4bn of government equity that was injected into Northern Rock following its collapse in 2007. The taxpayer could receive up to an additional £250m if the business is sold or floated in future. The sale of the “good” part of the bank marks a £400m loss for the government. The bulk of the funding for Virgin’s bid was provided by Wilbur Ross, the US billionaire investor, who owns a 20 per cent stake in the group. More ON THIS STORY Q&A How the deal affects you Lombard Branson risks Northern exposure Metro Bank has issued just 100 mortgages Good news for Lloyds as Co-op bids for branches On London UK domestic banks ON THIS TOPIC N Rock expects to make profit in 2012 Northern Rock to set off privatisation wave Hedge fund says Northern Rock call is wrong Virgin’s success follows an unsuccessful first attempt to acquire Northern Rock before its nationalisation almost four years ago. This time Virgin faced very little competition for the business, which includes 75 high-street branches, 1m customers and £14bn of mortgages. The sale signals the end for one of the most notorious brands in British high-street banking.

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UK press in dock over phone-hacking, lawyer says

 

Britain's entire press stands in the dock at an inquiry into media standards, said a lawyer representing victims of press intrusion and phone-hacking by Rupert Murdoch's News of the World. David Sherborne, who is representing 51 "core participants" at an inquiry set up as the hacking scandal engulfed News Corp's British arm, said Wednesday that "tawdry" tabloids were guilty of blackmail, bribery and vilification. He said his clients had endured lies, harassment and other "despicable" actions from the press and that phone-hacking might only be the tip of the iceberg. "It is the whole of the press, and in particular the tabloid section of it, which we say stands in the dock," he said. "It is time we had change and by that I mean real change." The Leveson inquiry, due to last a year, will make recommendations which could have a huge impact on the industry and lead to tighter regulation and, at the least, an overhaul of the current system of self-regulation. Lawyers for Britain's major newspaper groups have already pleaded for the essence of that system to remain and said that if anything, the press needed more freedoms. But in a scathing and detailed attack on newspapers, particularly the notoriously aggressive tabloid press, Sherborne said: "We are here not just because of the shameful revelations which have come out of the hacking scandal, but also because there has been a serious breakdown of trust in the important relationship between the press and the public." "The press is a powerful body. They have a common interest and a self-serving agenda," he told the inquiry. Sherborne said revelations that a private detective, jailed for phone-hacking in 2007 along with the News of the World's former royal reporter, had carried out more than 2,000 tasks for the paper suggested that there were about 10 stories in the tabloid every week from the illegal practice. He listed details of some of those who had been targeted, starting with the parents of Milly Dowler, a missing schoolgirl who was later found murdered. It was the revelation that her phone had been hacked while she was missing that changed attitudes to the issue. Within days, News Corp withdrew its bid to buy the 61 percent of broadcaster BSkyB it did not already own and its British newspaper arm News International closed down the 168-year-old News of the World. It also prompted Prime Minister David Cameron to order the inquiry.

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UK economy forecast: Eurozone crisis dampens Bank’s growth estimate

 

THE Bank of England warned today that the eurozone debt crisis is the “single biggest risk” to the UK recovery as it forecast a dramatically increased threat of a double-dip recession next year. Its quarterly inflation report revealed a greater chance of the economy contracting in the first three quarters of 2012, compared with its August forecasts, as eurozone and banking concerns and squeezed household budgets continue to weigh on growth. The Bank slashed its central - or most likely - growth estimate to no more than 1 per cent in both 2011 and 2012 from previous forecasts of around 1.5 per cent and 2.2 per cent respectively. The worsened prospects for the UK economy mean inflation is likely to fall far quicker than previously estimated, hitting the Government’s 2 per cent target in the second half of next year before falling to as low as around 1.3 per cent in 2013. Bank governor Sir Mervyn King warned the “journey to a more balanced world economy will be long and arduous”. He said UK economic activity will be broadly flat until the middle of next year and added that the country faces a “difficult economic environment”. Today’s report backs the City’s view that the Bank will keep interest rates on hold for the foreseeable future and add another £75 billion to its quantitative easing programme by February. Vicky Redwood, chief UK economist at Capital Economics, said: “Even the Bank’s downgraded growth forecasts still look optimistic to us - we expect zero growth next year.”

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Euro zone crisis is tough going -- for traders

 

Life is not easy for the financial market traders who are making things so hard for euro zone policymakers. There are no pumped-up traders cheering from their screens as Italy's bond yields rise or as France gets sucked into a debt crisis which has already forced Greece, Ireland, and Portugal to seek international bailouts. The mood is weary and fraught. Bond traders see their own business throttled off by the same market forces that squeeze Italy's public finances and stir speculation about France's triple-A credit rating. "Things have felt almost as bad as it was back during the Lehman days in terms of liquidity - it is increasingly hard to get any business done and, to be honest, we think it is going to get worse," a London-based bond trader said. "Two-way markets have gone, the size of business you can get done at these bid/offer rates is minimal, bonuses and jobs are being cut. It's depressing and what is worse, there is no guarantee that anything is going to be better next year." Talk to fund managers and it is easy to see why a debt crisis which has mutated into an existential crisis for the euro is not translated into a bonanza for traders. "What if the currency union falls apart? Our premise is that it doesn't happen. (But) if you think that is going to happen, don't buy equities. Don't buy anything. Just go and hide," a London fund manager running money for institutional investors said. UNRELENTING STRESS As investors stampede to exit some euro zone bond markets, price swings have become bigger and the business of trading -- which relies on finding buyers or sellers before the market moves against you -- has become harder. "People are just exhausted because of the intensity of what is going on," said a bond salesman in London who has been working in the financial market for decades. "It is unbelievable stress and it is unrelenting. People are just hunkered down and working their socks off as everything is just more difficult -- hedging your risk, avoiding losses, everything." There is somewhat less gloom in equity markets, where investors are still trying to spot pockets of value. But the extent to which stock markets have been moving in lockstep with the price of Italian, Spanish, or French bonds in recent days means that trading behavior is far from normal even in equities. "Over the past few days there have very quiet periods punctuated by mad dealing frenzies," said Yusuf Heusen, sales trader at IG Index in London. "The quiet periods have been really very quiet as traders have not been taking on much risk other than to short the euro markets. The busy periods are absolutely manic as everybody wants to get on at the same time and generally same direction and sell offs are extreme as a consequence."

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Bank governor Sir Mervyn King sent a stark message to political leaders as he flagged an unresolved eurozone debt crisis

 

Bank governor Sir Mervyn King sent a stark message to political leaders as he flagged an unresolved eurozone debt crisis as the "single biggest risk" to the economy. But despite cutting forecasts, some experts accused the bank of being too optimistic and have predicted another multibillion-pound injection into the economy as early as next month. In its quarterly inflation report, the bank slashed its central, or most likely, growth estimate to around 1% in both 2011 and 2012 - but compared to previous forecasts the Bank's projections reveal a greater chance of the economy shrinking in the first three quarters in 2012. The forecasts assume the problems in the eurozone do not deepen, quantitative easing is maintained at current levels and interest rates stay at record lows. The worsened prospects for the UK economy mean inflation is likely to fall far quicker than previously estimated, hitting the Government's 2% target in the second half of next year before falling to as low as around 1.3% in 2013. Sir Mervyn, who was formally knighted at Buckingham Palace on Tuesday, said UK economic activity will be broadly flat until the middle of next year and added that the country faces a "difficult economic environment". The bank's report backs the City's view that interest rates will be kept on hold for the foreseeable future and another round of quantitative easing (QE) will be rolled out before February. But some economists were still not convinced. Vicky Redwood, chief UK economist at Capital Economics, said: "Even the bank's downgraded growth forecasts still look optimistic to us - we expect zero growth next year."

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I'm A Celebrity Get Me Out Of Here! contestant Freddie Starr has been taken to hospital after suffering a severe allergic reaction in the jungle

I'm A Celebrity... Get Me Out Of Here! contestant Freddie Starr has been taken to hospital after suffering a severe allergic reaction in the jungle. According to the Daily Mail, Starr started feeling sick after completing the Greasy Spoon Bushtucker trial with The Only Way Is Essex star Mark Wright and doctors were called to assess the 68-year old's condition. An ITV spokesman has since confirmed the comedian's illness, stating: "Freddie Starr was taken unwell in the jungle. He was immediately attended to by on-site medics and taken to hospital where he was assessed by doctors." They added: "He will remain in hospital overnight as a precaution, and further tests continue. However, Freddie is in great spirits and keeping nursing staff entertained." A show-insider Down Under also explained to the newspaper that Starr's bout of ill-health has nothing to do with his well-documented heart problems, explaining: "Doctors have told us that it’s highly unlikely that what’s happened is related to any pre-existing condition, cardiac or otherwise." "They think he’s had a severe allergic reaction, but they may not be able to pinpoint the cause. The reaction could be due to a spider bite, he might have reacted badly to a leech or a tic, or even a snake he hadn’t noticed." They continued: "He might have reacted badly to the bark of a tree he leant on, or a leaf he touched in passing. Doctors are testing all of these things. The jungle is an alien environment for most of us, but the show is always prepared for all eventualities and this is no exception." "The unpredictability of the jungle is what sets this programme apart from other shows. The element of jeopardy is always there. However, the  celebs are watched 24-hours a day by a huge team of people." The Mail's source added: "There are dozens of cameras on the celebs, as well as 24-hour security in the camp and a huge crew around them. There are also on-site medics around the clock." As for weather the gruesome bug eating task was to blame, the mole claimed: "The foods are all tested on people before they reach the celebrities." "Extreme precautions are taken and bush tucker like the cockroaches are all bred hygienically. It’s unlikely that this is the cause of his reaction, but tests are continuing and we can't rule out anything."

I'm A Celebrity... Get Me Out Of Here! contestant Freddie Starr has been taken to hospital after suffering a severe allergic reaction in the jungle. According to the Daily Mail, Starr started feeling sick after completing the Greasy Spoon Bushtucker trial with The Only Way Is Essex star Mark Wright and doctors were called to assess the 68-year old's condition. An ITV spokesman has since confirmed the comedian's illness, stating: "Freddie Starr was taken unwell in the jungle. He was immediately attended to by on-site medics and taken to hospital where he was assessed by doctors." They added: "He will remain in hospital overnight as a precaution, and further tests continue. However, Freddie is in great spirits and keeping nursing staff entertained." A show-insider Down Under also explained to the newspaper that Starr's bout of ill-health has nothing to do with his well-documented heart problems, explaining: "Doctors have told us that it’s highly unlikely that what’s happened is related to any pre-existing condition, cardiac or otherwise." "They think he’s had a severe allergic reaction, but they may not be able to pinpoint the cause. The reaction could be due to a spider bite, he might have reacted badly to a leech or a tic, or even a snake he hadn’t noticed." They continued: "He might have reacted badly to the bark of a tree he leant on, or a leaf he touched in passing. Doctors are testing all of these things. The jungle is an alien environment for most of us, but the show is always prepared for all eventualities and this is no exception." "The unpredictability of the jungle is what sets this programme apart from other shows. The element of jeopardy is always there. However, the  celebs are watched 24-hours a day by a huge team of people." The Mail's source added: "There are dozens of cameras on the celebs, as well as 24-hour security in the camp and a huge crew around them. There are also on-site medics around the clock." As for weather the gruesome bug eating task was to blame, the mole claimed: "The foods are all tested on people before they reach the celebrities." "Extreme precautions are taken and bush tucker like the cockroaches are all bred hygienically. It’s unlikely that this is the cause of his reaction, but tests are continuing and we can't rule out anything."

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Phone hacking: the names of nearly 30 News International staff appear in Glenn Mulcaire's notebooks

Phone hacking: the names of nearly 30 News International staff appear in Glenn Mulcaire's notebooks, the Leveson inquiry has heard. Photograph: Peter Macdiarmid/Getty Images

The names of 28 News International employees appear in notebooks belonging to Glenn Mulcaire, the private investigator who worked for theNews of the World, the Leveson inquiry into press standards heard on its first day at London's high court.

 

Lord Justice Leveson's inquiry also heard that Mulcaire wrote the words "Daily Mirror" in his notepad, which suggests he may have carried out work for the paper.

 

Robert Jay QC, counsel for the inquiry, told the high court that "at least 27 other News International employees" are named in Mulcaire's paperwork, as well as former News of the World royal editor Clive Goodman, who was jailed for phone hacking along with the private investigator in January 2007.

 

Jay also told the inquiry, which began formal hearings at the high court on Monday: "The inquiry is beginning to receive evidence to indicate that phone hacking was not limited to that organisation [News International]."

 

He said the number of News International names and the scale of the activity indicated there was a culture of phone hacking at the company. "Either management knew what was going on at the time and therefore, at the very least, condoned this illegal activity," he said, or there was "a failure of supervision and oversight".

 

Mulcaire received a total of 2,266 requests from News International journalists, Jay said, 2,142 of which were made by four unnamed reporters. The most prolific of them made 1,453 of those requests.

 

A total of 690 audio tapes were also recovered from Mulcaire's office, Jay revealed, and there was a record of 586 recordings of voicemail messages intended for 64 individuals. The evidence was seized by Metropolitan police officers during a raid in 2006.

 

Mulcaire's 11,000 pages of notes mentioned 5,795 names, he confirmed, who could be potential phone-hacking victims.

 

Jay also said the inquiry had seen documents that suggest Mulcaire was hacking into phone messages ago as early as May 2001.

 

It had been thought until today that the earliest phone hacking by Mulcaire occurred in 2002. The new date is potentially significant because it falls before the 9/11 terrorist attacks.

 

It has been alleged that News International instructed private investigators in the US to target relatives of the victims of the 9/11 attacks, although no proof has so far emerged that this took place.

 

The Sun is also named in Mulcaire's notes, Jay said. Jude Law had cited the Sun along with its former sister paper the News of the World in his civil case against News International, although the Sun has since been dropped from his claim.

 

Several public figures are believed to be preparing civil cases against the Daily Mirror, but none have so far come to court.

 

The paper's publisher, Trinity Mirror, continues to insist that its journalists operate within the law and follow the Press Complaints Commission's code of conduct.

 

A Trinity Mirror spokesman said the company has "no knowledge of ever using Glenn Mulcaire".

 

Jay said the Mulcaire notes showed a "thriving cottage industry" and the "scale of activity gives rise to the powerful inference that it must have occupied Mulcaire full time".

 

Outlining the vast remit of the inquiry, Jay described a "root and branch" investigation of the press that would not be cowed by the powerful range of institutions in the media.

 

He said the inquiry would consider granting "protected measures" to whistleblowers who were afraid of criticising their employer or speaking truthfully about press ethics.

 

The inquiry will not be limited to phone hacking, Jay said, adding that Leveson was keen to learn about all "unlawful and unethical" newsgathering methods, including subterfuge and blagging.

 

The former News of the World undercover reporter, Mazher Mahmood, has submitted written evidence and will give oral evidence to the inquiry at a later date, Jay said.

 

Opening the hearing, Leveson said he had "absolutely no wish" to stifle freedom of speech and expression, and that the inquiry would monitor media coverage to see if it appears that anyone who speaks out is being "targeted adversely".

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Gaga may once again have offended the pious as she emerged as a decapitated corpse from a confession box

Gaga may once again have offended the pious as she emerged as a decapitated corpse from a confession box, and that too with a crucifix in the background. No doubt the elaborate attire came off as she began to perform and came to a more natural avatar of fishnet stockings and a black lace bodice.

The Grammy-winner was clearly excited about performance when she tweeted earlier, "So excited to perform Marry The Night on X Factor UK tonight! Will sing my head off for England!! Almost time X-FACTOR! Also get ready monsters cuz #MarryTheNight officially impacts radio next week! Thanku to stations that added it early!"

Now we realise she meant it quite literally!

 

 

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THE mother of missing Madeleine McCann said yesterday she still wished she could “stop time”.

03:44 | THE mother of missing Madeleine McCann said yesterday she still wished she could “stop time”.

 

Poignant: Kate McCann

 

Kate McCann, who marked the fourth anniversary of Maddy’s disappearance in May, said she and husband Gerry would not give up on finding their little girl.

In a poignant message on the Maddy search website, she wrote: “My grandparents always said the years pass more quickly the older you get. It certainly feels that way. I still dream of being able to stop time.

“Our only alternative however is to continue doing as much as we can to the best of our ability to enhance the search for Madeleine. So that is what we’ll do.”

She added: “It is a big relief that our Government finally agreed to a review. It will be lengthy and difficult but definitely a major step.”

Maddy was nearly four when she vanished from her family’s holiday flat in Praia da Luz, Portugal, in 2007.

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UK border checks are 'a bad joke', whistleblower claims

 

Under-pressure staff are said to be relying on false data and "massaging" official figures to mask the full extent of the immigration chaos at Britain's borders. The whistleblower, a middle manager who does not want to be identified, said UKBA staff lack the resources to track down asylum seekers. As a result, it is claimed, complicated immigration cases are being abandoned to save time, while detention centres employ a "one in, one out" policy that sees low-risk detainees released to allow more dangerous foreigners to be locked up. The whistleblower said British border checks had become "haphazard" and "a bad joke". "The whole place is a basket case," he told The Sunday Times (£). "Asylum seekers run rings around us and we are virtually powerless to do anything about it. It is depressing."

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Ex-policeman jailed over VAT fraud

 

former police officer who admitted his part in a £365 million VAT fraud has been jailed for 10 years and three months. The conspiracy that Nigel Cranswick directed has taken the equivalent of 25 years of work to investigate, Judge Brian Forster said. The 47-year-old ex-South Yorkshire Police officer was a director of Ideas 2 Go, and, despite its modest base in a Sheffield business park, he claimed it bought and sold £2 billion worth of goods in just eight months. He has since admitted that the firm's trading, largely in mobile phones and computer software, was fictitious, and the aim was to generate paperwork from fake sales in order to claim back a fortune in VAT from HM Revenue and Customs. Judge Forster, sitting at Newcastle Crown Court, said: "This case concerned planned dishonesty resulting in the loss to the Revenue in the region of £365 million. "There were purported sales of billions of pounds. "The prosecution rightly described the case as an unprecedented attack on the Revenue. "The case has taken 25 man-years to investigate." Cranswick was recruited to play his role in the MTIC (missing Trader intra-community) fraud by others. Also known as carousel fraud, it involves importing goods from other EU states which are then sold through contrived business-to-business transactions. Cranswick, of Danby Road, Kiveton, Sheffield, admitted conspiracy to cheat HMRC at a hearing last month. After the sentencing, Exchequer Secretary David Gauke said: "This Government will not tolerate dishonest people stealing public money. "This sentence shows that those who try to commit fraud need to think again - HMRC will find you and the courts will punish you. "The additional £917m we have invested in HMRC will see more cases like this successfully prosecuted, sending a clear and powerful message." The judge said the sentencing exercise was to punish the offending and deter others. "The figures in this case are astonishing, they reveal the blatant nature of the fraud," he said. Between June 2005 and February 2006, I2G supposedly carried out almost 6,000 deals, with a turnover of £2.4 billion. Sentencing Cranswick, the judge said: "You were immediately before this fraud a serving police officer. Almost unbelievably you retired from the police force and became the organiser of this fraudulent operation. "You set up the company, you clearly accepted the direction of others - the organisers who are not before this court." Outside court, HMRC said Cranswick went "from rags to riches" soon after retiring, having been heavily in debt as a police officer. A spokeswoman said: "He made lavish improvements to his home, rented a luxury apartment in the Spanish town of Marbella and paid for private schooling and tennis lessons for his children. "Cranswick claimed that in the first six weeks of trading Ideas 2 Go had turned over more than £527 million. "The company had traded over £47 million before they even got round to opening a bank account for the business." HMRC assistant director for criminal investigation Paul Rooney said: "As a police officer Cranswick knew full well that he was breaking the law, yet, motivated by greed, he chose to overlook it for the opportunity of making what he wrongly assumed would be easy money. "He now has to pay a very high price for his poor judgment and lack of integrity. "This was a sophisticated fraud designed to steal hundreds of millions of pounds of tax, but it started to unravel when our investigations identified sales for more than 50,000 mobile phones, which the manufacturers hadn't even begun producing in their factories." Cranswick nodded as the judge passed sentence, and gestured to members of his family in the public gallery as he was led away. Also sentenced after admitting conspiracy to cheat the Revenue were Thomas Murphy, 27, of Dinnington, who was jailed for four and a half years; Cranswick's brother-in-law, Darren Smyth, 42, from Beech Road, Maltby, and Brian Olive, 56, from Buttermere Close, Doncaster, who were sentenced to three years and four months each; and former housing officer Andrew Marsh, 28, from Sheffield, who was jailed for two years and eight months. Cranswick's 44-year-old sister, Clare Reid, married to Smyth, was handed a nine-month sentence, suspended for 18 months, and ordered to carry out 150 hours of unpaid work after admitting two counts of false accounting. Cranswick styled himself as a singer-songwriter and can be seen on his website strumming a guitar to a song called Hit And Miss with the opening lines: "I'm in trouble, falling down a hole. How I got here, I won't ever know." He was lead singer with an indie band called Not The Police.

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How a Financial Pro Lost His House

 

ONE night a few years ago, when the value of our home had collapsed, our debt was out of control and my financial planning business was shaky, I went to take out the trash. He wrote a book based in part on lessons learned by losing his Las Vegas home in the housing crisis. There was this enormous window that looked right in on the kitchen table, and through it I could see my wife, Cori, and our four children eating dinner. It was dark outside, so they couldn’t see me, and I just stood there looking at them. After a while, I pulled up a bucket and I sat on it, just watching my children eat. I found myself wishing that I could get back there, connected to the simple ordinary stuff of my family’s life. And as I sat and watched, filled with longing and guilt, two questions kept arising: How did I get here? And how am I going to get out of this? There are many stories these days of people who lost their financial bearings during the housing boom and the crisis that followed, but my story is a bit different from most. I’m a financial adviser. I get paid to help people make smart financial choices, and I speak and write about personal finance issues for this publication and others. My first book comes out in January, “The Behavior Gap: Simple Ways to Stop Doing Dumb Things With Money” (Portfolio, a Penguin imprint). The thing that few people know, though, is that I learned a lot of this from experience. I made a bunch of mistakes, the very same ones that I now go around warning people to avoid. So this is the story of how I lost my home, the profound ethical questions that arose along the way, and what my wife and I learned from the mistakes that led us to that point. It made me better at what I do, but it wasn’t much fun getting there. Like most financial stories, this one is personal. It starts with me getting into the financial services industry more or less by accident. I answered an ad in 1995 that I thought was for a job related to “security” (as in security guard) but was in fact related to “securities.” That’s how little I knew about the stock market. A few months later I found myself working a phone at a Fidelity Investments call center. Things went well, and by 1999 I was a Merrill Lynch financial adviser and a certified financial planner. By then, we also owned a house in Salt Lake City. We’d bought it two years earlier, with a $25,000 down payment. A few years later, an opportunity arose to form a partnership with a successful Merrill adviser in Las Vegas. The place was on our top 10 list of never-move-to cities because we had always associated it with the Strip. But Cori and I were looking for an opportunity to have an experience somewhere else, and we met some great people when we visited the city. I took the job, and we moved down there. That was May 2003. Housing prices were already crazy, so we rented. But our neighborhood had zero character and lots of cookie-cutter houses. Within a few weeks, we were looking for a place to buy. I felt we could afford around $350,000. We called a real estate agent named Mitch, who had signs on all the bus stops: Talk to Mitch! He picked us up in a gold Jaguar, and suddenly we were looking at houses that listed at $500,000 or more. It felt a little crazy to be shopping for houses that cost half a million dollars, but my income was growing rapidly. Everywhere I looked, people were being rewarded for buying as much house as they could possibly afford, and then some. There was this excitement in the air, almost like static. I started to think that if I didn’t buy a house right then, I would never be able to afford one. At moments during our house hunt, I felt in my gut that something wasn’t right. We’d go to open houses for $400,000 homes and see lines of couples in their late 20s — younger than we were — waiting to get inside. I kept wondering where all the money was coming from. How did all these people make so much?

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BOTTOM five most hated airports

5. Ninoy Aquino International, Manila, Philippines

 

Wear a helmet -- the first collapsed ceiling in 2006 at Ninoy Aquino International Airport.

Beleaguered by ground crew strikes, unkempt conditions, soup kitchen-style lines that feed into more lines and an overall sense of futility, NAIA brings the term “Stuck in the 1970s” to a new level.

 

At Terminal 1 all non-Philippine Airlines remain crammed despite serious overcapacity issues and a new and underused Terminal 3 is occupied by a few minor carriers. 

A rash of bad press this year (including a “Worst in the World” ribbon from Sleeping in Airports) was capped by a collapsed ceiling in T1, a paralyzing ground service strike at T2, and the usual charges of tampered luggage, filthy restrooms, seat shortages at gates, re-sealed water bottles sold in retail shops and an Amazing Race-style check-in routine spiked with bureaucracy, broken escalators, lengthy Dot Matrix passenger lists and creative airport departure fees. 

Read more on CNNGo: World's busiest airports announced

4. Toncontín International, Tegucigalpa, Honduras

 

Over-priced corn chips will be the least of your worries.

When do the most common airport gripes about inefficiency, uncomfortable gate chairs, dirty floors and lousy dining options suddenly become irrelevant? When you’re preoccupied about whether your 757 will actually be able to stop before the runway does. 

 

Nestled in a bowl-shaped valley at 957 meters above sea level, Toncontín’s notoriously stubby, mountain-cloaked landing strip was recently lengthened another 300 meters following a fatal TACA aircraft overshoot in 2008.

Not enough though to avoid being named the “second most dangerous airport in the world” by the History Channel. 

Nepal’s hair-raising Tenzing-Hillary Airport in the Himalayas is the top seed, but receives fewer gripes from its thrill-seeking Everest-bound clientele.

Read more on CNNGo: Shanghai Pudong International Airport: Fifth best in the world

3. London Heathrow, London, England

 

"You'll fly through departures -- at the speed of a penguin."

Depending on which of Heathrow’s five terminals one is funneled through, the average experience at the world’s third-busiest airport ranges from mildly tedious to "Fawlty Towers" ridiculous. 

 

With its rash of -- as they were politely called -- “teething problems” in bright and airy T5 (remember that riotous grand opening with 34 canceled flights?) and nicely matured problems in Ts 1, 2 and 3, the issues passengers are beset with run the gamut.

Parking messes. Busted baggage carousels. Deadlocked security lines. Long walks (or, more commonly, runs) between gates to a frenzied soundtrack of “last call” announcements. Realizations that getting out of Heathrow took longer than actually flying here from Madrid. 

In the airport “where the world changes planes,” it all boils down to a chronic inability to cope with this many people. Plans for a sixth terminal should help sever even more nerves.

2. Los Angeles International Airport, Los Angeles, United States

 

It's not even a good spot for celebrity sightings.

If the world’s seventh-busiest flight hub was an old ballpark resting on the stale reputation of its Dodger Dogs and that great 1959 series, LAX might have some endearment value. 

 

But it’s an airport -- a dramatically undersized and moribund one with the architectural élan of a 1960s correctional facility and several publicized concerns about how its 1,700 takeoffs and landings a day can be sustained in a facility a fifth the size of healthier cousins like Dallas/Fort Worth. 

The unsupportive donut-shaped design -- it’s been called “eight terminals connected by a traffic jam” -- makes dashing between airlines feel like a diesel-scented cardio test. 

Plunked in the middle is the airport’s landmark Jetsons-style restaurant and only mentionable amenity, Encounter, but how does one actually get inside this place -- at least before being nailed for a petty traffic violation by some of the most ticket-hungry airport cops west of the Mississippi?

Read more on CNNGo: World's most terrifying airports

1. Paris-Charles de Gaulle, Paris, France

 

Don't expect to make friends during a storm closure.

“A great country worthy of the name,” President Charles de Gaulle once opined, “does not have any friends.” 

 

True or not, it’s this sort of attitude that has helped CDG become the most maligned major airport on earth. What’s fueling it? 

Grimy washrooms with missing toilet seats don’t help. Nor do broken scanning machines and an overall lack of signage, gate information screens and Paris-worthy bars, restaurants or cafés.

The baffling circular layout is worsened by warrens of tunnel-like structures, dismissive staff and seething travelers waiting forever in the wrong queue. 

The worst part may be this airport’s aura of indifference to it all. “Waiting for a connection here,” notes one commuter, “is like being in custody.”  

If you’re actually staying in Paris, you may be okay. If you have the gall to just be passing through between Malaga and Montreal, you can cut the spite of this place with a cheese knife.

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Top five most hated Airports

10. São Paulo-Guarulhos International, São Paulo, Brazil

 

Whether it's 9 a.m. or 9 p.m. this airport experiences round-the-clock rush hour.

Why is this place on our list after scoring third best airport in South America at the 2011 World Airport Awards? 

 

Because, shockingly enough, it turns out that corporate medal ceremonies aren’t always in sync with what people are thinking when they're standing in two-hour immigration lines, suffering routinely unannounced gate changes and paying through the teeth for a stale Brazilian cheese roll and beer inside an understaffed and over-aged aviation facility. 

In a country where flight delays (departing or arriving) are just part of the deal, some recent numbers would give pause to the most unflappable traveler at Brazil’s largest airport.

Just 41 percent of all flights leave on time. Only 59 percent of flights arrive on schedule, according to Forbes.  

São Paulo-Guarulhos has announced plans to add runways and terminals -- what airport hasn’t? -- but with nearly 30 million passengers traipsing through every year (the figure has reportedly doubled in under a decade) the urgency is palpable and, sadly enough, unsolved by upping prices at musty duty-free shops.

But does this really constitute bronze medal status? When the best unofficial advice for surviving Brazil’s pin-up airport is to try and learn a little Portuguese and not lose your temper, something’s gotta give. 

Read more on CNNGo: World's biggest airport planned

9. Perth Airport, Perth, Australia

 

Kick a dog while it's down: The Qantas strike didn't help PER's reputation.

If there’s one thing Australians love, it’s hating their airports.

 

But while the big guns in Sydney, Melbourne and also-rans in Darwin, Cairns and Hobart get routinely lambasted for various inefficiencies and rip-off tactics, passengers in Western Australia have a special place in their spleens for Perth. 

“The only advantage over some other airports is the lack of nearby combat,” notes one of several miffed passengers on airportquality.com. 

With a reviled pair of domestic terminals (home of two-hour taxi-line queues, atrocious check-in lines, overpopulated gates and meager lounges) and a slightly more palatable international terminal five kilometers away, Perth’s brittle facilities can be overwhelmed just by a trio of aircraft arriving within 20 minutes of each other. 

Now that an ambitious “billion-dollar” redevelopment project has been significantly scaled back, who would ever want to leave Changi for this place? 

Read more on CNNGo: Transit hotels: How to get to sleep during your stopover

8. Tribhuvan International, Kathmandu, Nepal

 

Don't look the officers -- or the dogs -- in the eye.

For a small airport in a pretty country, Tribhuvan has it all: the interminable weather delays of Boston Logan, the shoddy restroom maintenance of a Glasgow sports bar, the departure board sparsity of McMurdo Airfield and the chronic chaos of a kids' soccer match. 

 

Some airport improvements have been underway for the Visit Nepal 2011 tourism campaign, including things most passengers don’t much care about (e.g., the new helicopter base). 

The most serious beefs with Nepal’s only international airport revolve around its primitive yet officious check-in procedure, starring a roulette wheel of underpaid security agents. 

“Departure is an endless game of body searches and silly questions,” notes one passenger.

“Those who didn’t have their e-tickets printed out had to argue their way in,” says another, who was checked seven times and scolded for not having a baggage tag on a carry-on before eventually boarding. 

Never mind. The city’s markets and surrounding mountains are lovely.

7. John F. Kennedy International, New York, United States

 

Fans flooded the airport to welcome the 1964 British Invasion, but it seems they never left.

You’d think it would be one of the greatest humiliations any major airport would never allow itself to live down -- getting routinely abandoned by fed-up folks opting to fly out of Newark (Newark!) instead, where at least the ground staff cop less attitude and fewer people outside are pretending to be cab drivers.  

 

But, nah, JFK really couldn’t really care less.

Every year, more than 21 million passengers stumble through worn, mid-century terminals that peaked when The Beatles arrived in the United States and rooftop parking was all the rage; JFK proudly remains the world’s busiest international air gateway.

So if you’re not into a dim, surly, unbearably congested airport reeking with attitude and unapologetically long immigration lines -- good riddance. 

“JFK had a piece of my luggage sitting in a little detention room for bags -- for over a year,” notes one passenger. “No one noticed it was there, until finally an observant Air France employee wondered what the dusty little green bag in the corner was.” 

Read more on CNNGo: Secret Report: Singapore's Chiangi Airport world's favorite 

6. Jomo Kenyatta International, Nairobi, Kenya

 

Can't be disappointed if you're not expecting much.

“As African airports go, it’s not that bad -- but as an international hub, it may be one of the worst out there.” 

 

This is the common refrain among travelers through JKIA, who either don’t have the heart or the expectations to give this dated aviation facility the kind of pounding reserved for the JFKs and Charles de Gaulles of the world. 

Saddled with a 1958 blueprint designed for 2.5 million passengers, JKIA receives close to twice that many. Hence the airport’s 2005, Three Phase, US$100 million expansion project which has seen long delays (something about the rain) and has been spinning its tires somewhere in Phase Two for the last few years. 

For now, that means business as usual: cramped spaces; long lines; inadequate seating; frequent power outages; tiny washrooms hiding up several flights of stairs; shabby duty free shops; overpriced food outlets; and business class lounges worthy of a shelter in mid-city Los Angeles.

Sure, it’s a breeze compared to Lagos. But it could be so much better. The confusing result: grateful disappointment?

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Fall of richest man in Ireland as Quinn is declared bankrupt

 

TROUBLED tycoon Sean Quinn, once Ireland’s richest man, was declared bankrupt yesterday at the High Court in Belfast. The 64-year-old businessman was granted a voluntary adjudication over an alleged E2.8bn debt owed to Anglo Irish Bank. It is believed to be one of the biggest bankruptcy orders of its kind ever made in either the United Kingdom or Ireland. Mr Quinn said he brought the application north of the border because he was born, reared and worked all his life in Co Fermanagh. But by declaring himself bankrupt in Northern Ireland it also means he only has to wait a year before going back into business – rather than 12 years in the Republic. He claimed to have been left with no alternative but to take the “drastic decision” over problems which stemmed from “ill-fated investments in Anglo”. The former billionaire was stripped of control of his manufacturing and insurance business empire in April. He had been plunged into financial trouble by purchasing bank shares which then became worthless. As a consequence, receivers were installed and he and his family lost any role in the management of the Quinn Group. Mr Quinn accepts that he owes around E194m to Anglo for property loans which he cannot repay. But the rest of the alleged debt, which relates to Contracts for Difference (CFDs) used to buy bank shares, is disputed. The Quinn family are currently suing Anglo, claiming the CFDs were tainted with illegality. Mr Quinn applied for voluntary bankruptcy through his lawyer and licensed insolvency practitioner, John Gordon of Napier and Sons. The order was granted during a brief hearing before a Master at the High Court in Belfast. Mr Quinn said in a statement: “I have done absolutely everything in my power to avoid taking this drastic decision. The vast majority of debt that Anglo maintains is owed is strenuously disputed. I cannot, however, now pay those loans which are due.” He added: “Following Anglo taking control of the Quinn Group of companies, which I and a loyal team spent a lifetime building, I find myself left with no alternative.” The businessman said he had “worked tirelessly” to find a solution to the problems. He claimed: “Anglo, and more recently the Irish Government, are intent on making scapegoats of my family and I.” According to him, the bank has attempted to avoid acknowledging “a lack of corporate responsibility, self-interest and lack of regulation that prevailed at the time”. His allegations are now the subject of High Court proceedings. Mr Quinn accepted: “I am certainly not without blame. I am not in the business of pointing fingers or making excuses. “However, recent history has shown that I, like thousands of others in Ireland, incorrectly relied upon the persons who guided Anglo and who wrongfully sought to portray a ‘blue chip’ Irish banking stock.” He said that he and his team had developed one of the most successful businesses in Irish history, with the group generating more than 5,000 jobs and contributing in excess of E1bn in tax revenues. Mr Quinn rejected any suggestion that he had brought down the empire. He also claimed: “Anglo has supported and promoted an ill-conceived and highly damaging receivership programme which I believe, if it continues on its current road, is destined for certain and catastrophic failure.” The statement added: “My family and I have been subjected to relentless negative media coverage over the past three years. “I have been portrayed as a reckless gambler who bet on a bank. I have never sought publicity, nor have I courted the media. “Sadly this now seems to have worked very much to my disadvantage, especially when compared with the sophisticated and massively expensive publicity campaign operated for, and on behalf of Anglo.

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