Friday, January 13, 2012

Billionaire's Greed Lands Him In Jail


Forbes reports that Michigan billionaire Manuel “Matty” Moroun has made a career of stretching the law to its limits (some would call it foot dragging) in order to protect his lucrative interest in Detroit‘s Ambassador Bridge, the most important economic link between the U.S. and Canada. On Thursday, after years of litigation, a frustrated judge decided Moroun had obstructed the law once too often, and threw him in jail for contempt.

Judge Prentis Edwards ordered Moroun, 84, to be held in the Wayne County jail, along with his right hand man, Dan Stamper, president of the Detroit International Bridge Co., until they comply with his order to finish building ramps that connect the bridge to nearby expressways. The bridge company agreed to the plan under a 2004 contract with the Michigan Department of Transportation to ease border crossings….

Read more at http://www.forbes.com/sites/joannmuller/2012/01/12/billionaire-bridge-owners-greed-lands-him-in-jail/

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