Bankrupt billionaire Sean Quinn and his ransomed son

Controversial Irish businessman Sean Quinn must find the €500m he is accused of hiding from his creditors - or else his son stays in jail.

There are few better exemplars of the rise and fall of Ireland's Celtic Tiger economy than Sean Quinn, once described by Forbes as "the biggest individual loser" of the global financial crisis. Having lost almost all his $6bn fortune following an international property binge, Ireland's erstwhile richest, and most controversial, tycoon faces an agonising new dilemma, says The Guardian. What price for a son?

"In another twist in the remarkable tale" of the bankrupt billionaire and his crumbling empire, Quinn's son (Sean jnr) has just been jailed for contempt of court for hiding €500m from creditors of the now-nationalised Anglo Irish Bank, which is owed €2bn by the Quinns. So how come Quinn senior (also found guilty of contempt) isn't behind bars too? The judge decided he'd be more productive on the outside. The deal is that if he produces the €500m, the convictions will be "purged" and Quinn junior released.

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