Secret Bankrupt Millionaire

ruggedtoast

This program generally makes me want to puke.

http://www.independent.co.uk/news/uk/home-news/secret-millionaire-declared-bankrupt-1780595.html

'Secret millionaire' declared bankrupt

By Laura May, Press Association

Wednesday, 2 September 2009


A businessman who gave away tens of thousands of pounds on Channel 4's Secret Millionaire programme has been declared bankrupt, solicitors said today.
Midlands-based property developer Chek Whyte was last month reported to be in £30m of debt and attempting to make arrangements to continue trading while paying off his debts.
But the self-made millionaire who appeared on the TV series in 2007 to give money to deserving causes in Salford, Manchester was adjudged bankrupt at Leicester County Court last Friday.
Manchester law firm Pannone LLP, acting on behalf of creditor Halls Furnishings Ltd, said: "As has been reported, Mr Whyte had put forward proposals for an individual voluntary arrangement which were withdrawn and therefore, as no further proposals were put to creditors, the court made the bankruptcy order.
"Mr Whyte's exposure on TV has portrayed him as an altruistic individual but sadly his business dealings have left him owing suppliers tens of thousands of pounds and these businesses have to take steps to recover monies owed to them".

Cleaver

ruggedtoast wrote: »

This program generally makes me want to puke.

How come? .....

ruggedtoast

Cleaver wrote: »

How come? .....

Is it not possible to give an interest only btl mortgage to a member of the working classes without showing them crying in humiliating gratitude?

Max_Headroom_3

I'm afraid I've always viewed the so called millionaires on this program with a healthy degree of scepticism on the odd occasion I've watched it.

I question their motivation, plenty of genuinely wealthy (and indeed plenty of entirely unwealthy) people manage to help others financially or in other ways without making a big fuss about it and attempting to tell the world just how jolly rich and super they are.

Graham_Devon

What amuses me is they are obviously being paid to do the programme. Then they give away some of their own money and not much considering some of their statuses and how much they actually have, it's like me giving a tenner to a charity every month, but getting paid to do so.

ruggedtoast

Theres a lot of free advertising going on in that show. The sums are sometimes comparatively small compared to the enormous wealth the protagonists supposedly have (invariably far far less than an hour of prime time advertising would cost their companies) - and the way they stage the scenes so the downtrodden poor always blub in pathetic gratitude when given their handout is pretty patronising imo.

That buy to let skank who does property speculation seminars (at £250 a seat or something) made me feel ill as she spent the last 1/3 of the show handing out dubious btl mortgages to people pointedly saying "and I will show you how to become wealthy LIKE ME".

Phirefly

Apparently, he's declared bankruptcy previously, so was operating as a sole trader and as such is personally liable.

I have a vested interest. He's developing the Stanford Hall site where I spent the best part of my childhood at the outdoor lido which he has plans to demolish (article). I hope his present circumstances will halt these misguided plans.

Cleaver

ruggedtoast wrote: »

Is it not possible to give an interest only btl mortgage to a member of the working classes without showing them crying in humiliating gratitude?

Erm, yes?

I just asked why the show made you want to vomit. Just a polite question. I've only seen it once or twice and it was okay.

wageslave

Cleaver wrote: »

Erm, yes?

I just asked why the show made you want to vomit. Just a polite question. I've only seen it once or twice and it was okay.

This from the man who doesn't like X Factor? Cleaver, I am soooo disappointed.

bo_drinker

Like a lot of tv it's a con. You can't tell me some of the people that are after a few quid don't know they are coming. It's bo11ocks. Maybe one old codger in the corner doesn't realise so as we have some grizzling when the millionaire spout off about being quids in and they are the answer to all their prayers...... Give me strength !!!!!!.

Looks like the bloke in the O P was in debt all the time. :rotfl:

lostinrates

A lot of people get worked up over this show, bt if an egoist wants to get some ego stroking while doing even a small amount of good, its a small price for reestablishing some sence of social conciousness to temper the uber consumerism in todays ''millionaires''. If it does even a small amount of good and the crime is, someone rich and self absorbed feels good about themselves rather than the joy of secret giveng, frankly I find it hrd to get angry about!