Until the accounts are reported, no one relly know what ABC...

Until the accounts are reported, no one relly know what ABC Learning is worth if anything! It was all a mirage. Fast Eddie lost his ABS shares but you need to ask how those shares came about in the first place. The whole company was a hive filled with incentious relationship.

This article best is a must-read for all diehard believers
http://business.watoday.com.au/business/end-of-a-fairytale-20080905-4amn.html

Looks like ASIC had fallen asleep at the wheels while Fast Eddie was driving ABS through a landscape of mist and heavenly mirage.

Fast Eddy was filtering the company transactions through a labyrinth of private companies closely related to himself. In each filter in the complex web, there would have been leakages of wealth sideways.

If ASIC could not find evidence of wrong doings to prosecute Fast eddy, it will be a sad indictment of the ineffectiveness of our regulators.