Article: Wendy Machanik deeply regrets actions

syntax said:
My point is that she was trying to keep the company a float, not running around spending it on herself etc.
I really dont think its that hard to see the difference?

Yes, it was a dumb thing to do, which she admitted it was. And yes, she should be punished. But she isnt a complete villain.
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Then she should have gotten a business loan from a financial institution, she decided she would use other peoples money for her own goals. What she did is disgusting.
 
biena said:
Then she should have gotten a business loan from a financial institution, she decided she would use other peoples money for her own goals. What she did is disgusting.
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im fairly certain they would not have approved a loan, from what it sounds like the company was in extreme financial turmoil.
Im going to give up, because obviously what I am saying is not getting through.
 
FFS, yes what she did was very wrong and very illegal and she has been punished accordingly. However the crime has been misrepresented in the media as something even worse.
 
syntax said:
Yes, it was a dumb thing to do, which she admitted it was. And yes, she should be punished. But she isnt a complete villain.
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In articles I read before, she does not come across as a nice person at all, syntax.


She asked one of her employees to commit fraud and when the employee refused, she threatened her.
 
blunomore said:
In articles I read before, she does not come across as a nice person at all, syntax.


She asked one of her employees to commit fraud and when the employee refused, she threatened her.
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I seriously doubt she is a nice person, but there are worse people out there who get less attention when they do horrible things
 
syntax said:
I seriously doubt she is a nice person, but there are worse people out there who get less attention when they do horrible things
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It does not mean her case should be ignored; she remains a criminal.

It simply means the other criminals should also get this kind of media attention.
 
blunomore said:
It does not mean her case should be ignored; she remains a criminal.

It simply means the other criminals should also get this kind of media attention.
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If you kindly look below, you just might see i stated she should be punished and her actions were wrong. I never said they should be ignored. However, as i said, there are way way worse people, doing way worse things, who arent as villainized as she has been.

syntax said:
what she did was illegal and she should be punished, but from the above article she isnt the absolute monster she was made out to be.
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syntax said:
yes, i stated as much when i said it was illegal and she should be punished.

so yes, its illegal, but i dont think she is the monster they made her out to be
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syntax said:
Yes, it was a dumb thing to do, which she admitted it was. And yes, she should be punished. But she isnt a complete villain.
Click to expand...
 
syntax said:
If you kindly look below, you just might see i stated she should be punished and her actions were wrong. I never said they should be ignored. However, as i said, there are way way worse people, doing way worse things, who arent as villainized as she has been.
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You said you think she is not a complete villian. Nobody is - I suppose everyone has a light side and a dark side.
 
biena said:
Fixed your reply, There is no such thing as technically illegal, she committed fraud and got away with it.
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Define stolen. My view is when you steal something you don't give it back - e.g. Nkandla, Lenasia property scandal...

This was more along the lines of illegal borrowing, and it wasn't done in a reckless manner - all deals in the pipeline were known to the conveyancing department, the company knew exactly how much money was due to come in. Only what could be paid back was taken out.

So yes, as it was a trust account it was illegal. But she did not steal anything. So then I ask you where are all stories of clients that were done-out of money by her?? there aren't any, when Carte Blanch was putting together the episode on this they looked very hard for those clients. The only people that were left high and dry were the employees and agents, as there was so much other accumulated debt that had to be covered (mainly business loans from Standard Bank) when they liquidated they could not get paid their salaries and commissions.

To say it was covered up is also not entirely correct. Every time money was borrowed out the trust account it was clearly marked and "Cross/Kline" in the books (stands for "crossing the line"). Again, the EAAB was FULLY aware of what was going on, there was an internal political motivation (within the EAAB) for Wendy being singled out from the rest of the industry [Wendy was actually a board member there for a while prior to the scandal].

As for her "getting away with it": She pleaded guilty, has been fined, been given a criminal record, placed under house arrest and has to do community service for 3 years. There were no "Machanik Millions" that she has stashed away; her personal funds were invested into the square block of properties on Oxford road in Rosebank - that was lost when everything went belly-up. (The idea was to have the land developed and the money from that would repay all the loans and be enough for her retirement).
 
Those crying for jail time should perhaps learn what jail time is like before condemning people to it. I don't think anyone should do time when a fine is more than likely going to serve as a lesson and deterrent. Especially when there is no victim.
 
I fail to understand why people cannot comprehend the severity of the crime.

If I come and steal you car tonight, will it be OK as long as I put it back tomorrow?
 
blunomore said:
I fail to understand why people cannot comprehend the severity of the crime.

If I come and steal you car tonight, will it be OK as long as I put it back tomorrow?
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As long as you don't break the 11th commandment (Thou shalt not be caught) then it's all good I guess :)

Seriously though, I've got a couple of mates who are lawyers, and they DO NOT mess with their trust fund accounts.
It's like an immediate dis-bar and go straight to jail offence if the audit picks up something funny

Don't see why it should be any different for an industry where people are making most likely the biggest single investments of their lives
 
McSack said:
As long as you don't break the 11th commandment (Thou shalt not be caught) then it's all good I guess :)

Seriously though, I've got a couple of mates who are lawyers, and they DO NOT mess with their trust fund accounts.
It's like an immediate dis-bar and go straight to jail offence if the audit picks up something funny

Don't see why it should be any different for an industry where people are making most likely the biggest single investments of their lives
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That is what I said a few posts ago - lawyers and estate agents keep their fingers out of their trust accounts cos it is a serious offence !
 
She did it to save her employees' jobs - what a load of BS!Consider yourself lucky they didn't lock you up.
No morals,no class,no remorse.
 
I work with someone who lost a fortune in commission, and has definitely not been paid out
 
Estate agents and lawyers are well known for fingers in trust funds.
 
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