AFR article post BRTV creditors' meeting, page-76

Like I said before, the numbers are real.

If a car dealership sells $1 million dollars worth of cars, then those are receipts. Weather or not the customers take out a loan to pay for it, it doesn't matter, they're still receipts. Normally a car dealership would have debt on it's books but it offloads it to finance company, along with the security (the car).

In BIG's case the security is itself, so there's no actual security to put on the books. The customers are also it's debtors so it cancels out. If you think about it, it's actually a pretty clever way to hide everything. Is it technically legal, yes, is it morally right, absolutely not.

At the end of the day, finance arrangement or not, this thing was doomed anyway. For investors here to blame it on fraud is a cop out.