ABSTRACT
Hatry’s fraud did not produce enough cash, partly because the banks had become nervous about the solvency of his companies. He and his team still found themselves in frenzied activity, trying to keep their promises to banks expecting repayment of their short-term loans. They resembled a music hall act trying to keep plates spinning on the top of improbably slender poles.
In September, the banks had lost patience with the failure to repay loans as they fell due and insisted on an investigation. Hatry and his team immediately admitted the fraud they had committed and precipitated the collapse of his companies.
A prosecution commenced immediately.
