Friday, December 23, 2005

How To Make £6m A year

The BBC reports:

"A postman who stole hundreds of cheque books enabling him to live a life of luxury has been jailed for six-and-a-half years. Dido Mayue-Belezika, 34, from Camden, north London, was behind a £20m fraud."

As we all now understand, with jail sentences you halve the announced figure. So six-and-a-half years actually means three-and-a-quarter. Which comes out at £6,150,000 pa.

Nice one Dido.

Of course, in some ways he was unlucky. He got caught, whereas 77% of offences go by with nobody getting caught.

So to be strictly correst, if you're contemplating your own £20m theft, the true bottom line in terms of your expected annual return is £20m divided by 23 percent of 3.25. Which actually comes out at £26,750,000 pa.


Picture: BBC News

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