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Tonight on Spotlight. On the trail of Tony Quinn. Visionary, guru, | :00:11. | :00:16. | |
hypnotist. The purpose of life is to experience life, not to see it | :00:16. | :00:21. | |
on -- sit on the side line and think about it. Life coach and | :00:21. | :00:25. | |
saviour to some, cult leader to others. He raised a fortune from | :00:25. | :00:29. | |
thinks believers, but we uncover claims that he has exercised a | :00:29. | :00:32. | |
sinister influence over them. Most extraordinarily of all, the inside | :00:32. | :00:36. | |
story of how two of his followers from Northern Ireland struck oil in | :00:36. | :00:41. | |
Central America and founded a multi million dollar business. I have to | :00:41. | :00:48. | |
tell you, it has been an amazing journey. Only to fall out over | :00:48. | :00:54. | |
Quinn's role in the firm. It's been a long, hard, tough time. Tougher | :00:54. | :00:59. | |
than anybody could possibly imagine. It began as a fairytale, with | :00:59. | :01:03. | |
adventure, exotic locations and outrageous fortune. How did the | :01:03. | :01:07. | |
dream go wrong? Questions surround what tbg and his supporters have | :01:07. | :01:11. | |
done with a fortune in oil money -- Tony Quinn. Something we put to him | :01:12. | :01:15. | |
when Spotlight tracked him down overseas. Dr Quinn, are you going | :01:15. | :01:19. | |
to pay back INE the money, the millions that the shareholders say | :01:19. | :01:29. | |
:01:29. | :01:47. | ||
I'm watching a promotional film for a highly controversial self- | :01:47. | :01:51. | |
improvement therapy called Educo. My turnover of my business shot | :01:51. | :01:55. | |
through the roof. It was incredible. It went from �8,000 a week turn | :01:55. | :02:02. | |
yofr to �0,000, effortlessly. goes beyond belief. It's a new way | :02:02. | :02:09. | |
and a new dimension of living. promises to change your life. | :02:09. | :02:14. | |
can't believe I went through an operation without anaesthetic. | :02:14. | :02:19. | |
is not possible for the first time ever to take control of ageing and | :02:19. | :02:26. | |
indeed health. You are in a position to produce what I call | :02:26. | :02:29. | |
designer lives. Educo, the educational system of the future, | :02:29. | :02:34. | |
today. It is the brain child of Dr Tony Quinn, Irish yoga teacher | :02:35. | :02:40. | |
turned business guru. His courses cost anything up to Sum Sum a time. | :02:40. | :02:45. | |
I wanted to investigate claims that he exercises a strange influence | :02:45. | :02:50. | |
over his believers. In particular, the story of a feud between two of | :02:50. | :02:56. | |
his former followers, two women from Northern Ireland Susan Morrice, | :02:56. | :03:02. | |
a renowned geologist from Belfast. Her former business partner, | :03:02. | :03:08. | |
Fermanagh woman, Sheila McCaffrey. Both had started as fans of Tony | :03:08. | :03:11. | |
Quinn's teachings. When I'm working with people, what I try and do is | :03:11. | :03:14. | |
take out everything that's possible and put it in front of them. They | :03:14. | :03:20. | |
choose how far they want to go. I would discover, the women | :03:20. | :03:30. | |
:03:30. | :03:36. | ||
disagree on him and they can't An annual meeting in Dublin of | :03:36. | :03:39. | |
International Natural Energy. On the right, Susan Morrice, company | :03:39. | :03:44. | |
Chairman. On the left, Sheila McCaffrey, her former Chief | :03:44. | :03:48. | |
Executive. The meeting descended into chaos. No actual business | :03:48. | :03:53. | |
seemed to be getting done. Shareholders seem in one way, | :03:53. | :03:57. | |
mystified, but there are plenty of angry shareholders in there too.S | :03:57. | :04:04. | |
can hear now with the shouts in the background. At stake was the very | :04:04. | :04:09. | |
future of the company, but for many, what was most striking was the | :04:10. | :04:12. | |
animosity between Morrice and McCaffrey. Shareholders were taken | :04:12. | :04:17. | |
aback. It was quite extraordinary day. I've never seen anything like | :04:18. | :04:22. | |
it. It was clash of the titans. Two female directors absolutely | :04:22. | :04:27. | |
fighting the piece out. The whole floor erupted. More people were | :04:27. | :04:31. | |
standing than sitting. There was shouting. Complete disorder. It was | :04:31. | :04:34. | |
a call to order a few times. There were seven American lawyers there. | :04:34. | :04:40. | |
They couldn't control the situation at all. Were you shocked to see the | :04:40. | :04:46. | |
goings on? Yes. I expect that adults would behave with a little | :04:46. | :04:51. | |
bit more decorum than that. It was a disgrace. Susan Morrice's | :04:51. | :04:54. | |
leadership had been attacked. It was her relationship to Educo and | :04:54. | :04:57. | |
Tony Quinn that was under examination. Exactly what position | :04:57. | :05:02. | |
did he have in the company's balance of power? After the meeting | :05:02. | :05:06. | |
imploded, shareholders seemed to have made up their own minds. | :05:06. | :05:11. | |
Quinn has complete control over her. He's the puppet master, she's the | :05:11. | :05:16. | |
puppet. God help her, he has complete control of that lady. | :05:16. | :05:19. | |
as serious, Susan Morrice had been accused of spending major amounts | :05:20. | :05:23. | |
of company money on herself. I put that to her as she was leaving with | :05:23. | :05:28. | |
the wife of her late business partner. Shareholders believe that | :05:28. | :05:33. | |
you are using the company as your personal bank. Absolutely not. | :05:33. | :05:38. | |
That's total lies. Total lies. shareholders say you are still | :05:38. | :05:43. | |
under the influence of Tony Quinn, is that truet? That is absolutely | :05:43. | :05:46. | |
ridiculous. Susan would file a complaint with police about | :05:46. | :05:49. | |
disruption at the meeting. As she left, she may well have reflected | :05:49. | :05:54. | |
on how she and Sheila had become such enemies after years of | :05:54. | :06:00. | |
friendship. The two women had met on the lawn of the White House over | :06:00. | :06:05. | |
a decade ago at an event promoting trade in Northern Ireland. Both | :06:05. | :06:11. | |
were young entrepreneurs. Susan was already a world renowned geologist. | :06:11. | :06:16. | |
Prospects are improving, Susan Morrice? Yes, they are. With this | :06:16. | :06:20. | |
particular type of technique we are using we can get an idea of the | :06:21. | :06:24. | |
structures or the hills underneath the ground. Sheila, here in her | :06:25. | :06:29. | |
native Fermanagh, was a business woman on the up. We have about | :06:29. | :06:35. | |
roughly half of it dedicated to office accommodation for computer | :06:35. | :06:40. | |
workers. It was their later deveetion to Educo and Quinn that | :06:40. | :06:49. | |
would lead them to their greatest success --devotion. Belize, Central | :06:49. | :06:54. | |
America. For 50 years, petroleum giants had tried and failed to find | :06:54. | :07:00. | |
oil here. But Susan Morrice and Sheila McCaffrey's company struck | :07:00. | :07:08. | |
oil first time. It was an average dale in Belize, hot, 40 degrees. We | :07:08. | :07:14. | |
were... Everybody was anxious. It was a... You know, a make-or-break | :07:14. | :07:19. | |
day as far as we were concerned. People assembled on the site, at | :07:19. | :07:27. | |
dawn, coming up to 5.30 am. The sun rose over Spanish lookout. Did I | :07:27. | :07:30. | |
think the world would be a different place by the time the sun | :07:30. | :07:34. | |
went down? I hoped it woofplt I dreamed it would. This is -- would. | :07:34. | :07:44. | |
:07:44. | :07:45. | ||
I dreamed it would. This is the moment their lives changed. Yeah! | :07:45. | :07:49. | |
It was a moment mouse day for everybody involved. I never seen so | :07:49. | :07:54. | |
many grown men cry in my life. Susan and Sheila's company had | :07:54. | :08:04. | |
:08:04. | :08:05. | ||
struck black gold. Hundreds of millions of dollars' worth of oil. | :08:05. | :08:09. | |
The Belize oil strike had its origins in the Educo seminars. Both | :08:09. | :08:14. | |
women had taken part in them and had been taught "dreams can become | :08:14. | :08:19. | |
reality." It was Sheila who introduced Susan to the life- | :08:19. | :08:23. | |
changing course. A concept that Susan continues to champion to this | :08:23. | :08:31. | |
day. That seminar allowed me to join the dotts. It was like a major | :08:31. | :08:36. | |
Eureka moment, when I realised that this life that courses through all | :08:36. | :08:44. | |
of us, that is our very being, is quite a separate part than the | :08:44. | :08:54. | |
:08:54. | :08:55. | ||
group of thoughts of mind sets that we believe are ourselves. Educo | :08:55. | :09:00. | |
promised a very different approach to business, life and the power of | :09:00. | :09:06. | |
the mind. Susan even promoted it on her website. Educo makes many | :09:06. | :09:13. | |
claims about its benefits. Many psychologist maintain we are only | :09:13. | :09:16. | |
using a small percentage of our minds. Vair yours estimates have | :09:16. | :09:22. | |
been offered from as high as 10% to as low as 5%. The science behind it | :09:22. | :09:26. | |
is questioned. I would be very sceptical of that there. In fact, I | :09:26. | :09:31. | |
would go so far as to contend that and say it's nonsense in many ways. | :09:31. | :09:35. | |
I mean, when they say about using more of your mind. They say that we | :09:35. | :09:40. | |
only use 10% of our mind. Which is incorrect. That is something that | :09:40. | :09:46. | |
has been a myth in psychology for a number of years. Dr John Butler is | :09:46. | :09:50. | |
an expert in hip know therapy and a long time critic of Educo and it is | :09:50. | :09:55. | |
emphasis on money. Educo is a mind development system that promotes | :09:55. | :09:58. | |
the idea that by studying the course information they have, you | :09:58. | :10:02. | |
will improve your quality of your life. It has a very strong emphasis | :10:02. | :10:07. | |
on material success, but it also applies to what they call "gaining | :10:07. | :10:11. | |
more life" being more in touch with life. It has a quasi-spiritual | :10:11. | :10:15. | |
aspect to it. It sounds positive. It sounds like a life-changing | :10:15. | :10:21. | |
force? That's the claim. Yeah. That's what people are promised. | :10:22. | :10:25. | |
Whatever the real benefits of Educo, there is no doubt that Susan and | :10:25. | :10:29. | |
Sheila were grateful to Quinn as the inspiration behind their | :10:29. | :10:33. | |
success. They gave him a vast shareholding in the company. He | :10:33. | :10:37. | |
would soon get a seat on the Board too. Quinn would benefit hugely | :10:37. | :10:47. | |
:10:47. | :10:52. | ||
from the company, certainly more County Down. The oil venture had | :10:52. | :10:57. | |
been funded partly by other followers of Quinn's teachings. One | :10:57. | :11:03. | |
of them, a retired nurse living in Donaghadee. I needed to break out | :11:03. | :11:07. | |
of the rut that I was in. It seemed to me to be a door that was opening | :11:07. | :11:15. | |
that was, perhaps, worth pursuing. Margaret Coutts' husband had died. | :11:15. | :11:19. | |
She felt she needed to rebuild her life. She signed up for the Educo | :11:19. | :11:24. | |
course. Margaret hoped it would improve her life dramatically. | :11:24. | :11:28. | |
was... I felt it was going to help me, it wasn't very long after I'd | :11:28. | :11:36. | |
lost my husband, and I was fighting to find a way that I could live | :11:36. | :11:46. | |
:11:46. | :11:48. | ||
Margaret had paid for a two week Educo seminar. Held in Las Vegas, | :11:48. | :11:53. | |
it cost around �12,000. I had never done any travelling and I thought, | :11:54. | :11:58. | |
well, this is an opportunity to go somewhere that I won't probably go | :11:58. | :12:07. | |
again. Staying at Caesar's Palace. It was the two things. What were | :12:08. | :12:10. | |
you paying for apart from the accommodation and the flights? What | :12:10. | :12:20. | |
:12:20. | :12:20. | ||
were you getting for your money? find that really difficult to | :12:20. | :12:29. | |
answer because, the more I think about it, the less I got for it. | :12:29. | :12:34. | |
Margaret had been encouraged to fund the oil exploration dream, | :12:34. | :12:44. | |
:12:44. | :12:45. | ||
like other Educo followers. Ralph McCutcheon from County Down was an | :12:45. | :12:48. | |
aindividual Educo follower. Encouraged by what he believed to | :12:48. | :12:52. | |
be its positive, go-getting message. In common with a lot of the people | :12:52. | :12:57. | |
who had been on the course, I had been through hard times. I had lost | :12:57. | :13:02. | |
my marriage, I'd lost my home. The only way was up. He happily put | :13:02. | :13:07. | |
money into the scheme to hunt for oil. When I first met him, he said | :13:07. | :13:12. | |
he had never seen a profit or full audited accounts. Shareholders like | :13:12. | :13:18. | |
Ralph complained they were kept in the dark. They started asking | :13:18. | :13:23. | |
awkward questions. We didn't exist. Some of us formed a shareholders | :13:23. | :13:26. | |
action group because we were so concerned that we couldn't get any | :13:26. | :13:30. | |
information from the company, we weren't getting AGMs, we weren't | :13:30. | :13:34. | |
getting any information at all. We weren't getting accounts. We were | :13:34. | :13:38. | |
being completely disregarded. We put the money in. Quinn's role in | :13:39. | :13:43. | |
the company had grown. He even wrote directly to shareholders to | :13:43. | :13:49. | |
celebrate their success. What did you think when you heard Tony Quinn | :13:49. | :13:53. | |
had been given a substantial amount of shares in the company? Where did | :13:53. | :14:03. | |
:14:03. | :14:03. | ||
the shares come from? Who gave them to him? Who paid for them? Why | :14:04. | :14:10. | |
should he be given shares? With the amount of money he has, why didn't | :14:10. | :14:13. | |
he buy them? Why didn't he get involved when the thing was getting | :14:13. | :14:20. | |
offer the ground? He waited until it was a functioning company and | :14:20. | :14:23. | |
producing oil. He didn't want to have anything to do with it prior | :14:23. | :14:32. | |
to that. A lot of questions. George Hamilton is a former Educo follower. | :14:32. | :14:38. | |
In one year, he had spent an incredible �70,000 euros on Quinn's | :14:38. | :14:41. | |
seminars. He invested thousands in the oil company. When I met him, he | :14:41. | :14:47. | |
hadn't seen a cent. According to George Hamilton, Quinn spoke at a | :14:47. | :14:52. | |
rare meeting of INE shareholders in 2007. He said that he was advising | :14:52. | :14:56. | |
the Board. He said that the advice he had given them was that they | :14:56. | :14:59. | |
were giving out too much information. He would be advising | :14:59. | :15:03. | |
them to give out very little information. Quinn was now a fellow | :15:03. | :15:07. | |
director, but Sheila McCaffrey was becoming sidelined. A new Chief | :15:07. | :15:12. | |
Executive was appointed, replacing her. She would later be removed | :15:12. | :15:18. | |
from the company altogether. INE, under Susan Morrice's Chairmanship, | :15:18. | :15:21. | |
would later say that Sheila did not have the required expertise, the | :15:21. | :15:27. | |
company had outgrown her. company didn't outgrow me. The | :15:27. | :15:32. | |
company... It went from being an exploration company and it suddenly | :15:32. | :15:37. | |
found oil. It's easy for people to look back now and make assumption | :15:37. | :15:42. | |
about what happened during the period of time I was there. I | :15:42. | :15:50. | |
actually do know what happened. This... Freeze out, of me that | :15:50. | :15:59. | |
happened, was purposely orchestrated, designed and executed | :15:59. | :16:02. | |
perfectly. We asked Tony Quinn if he was responsible for side lining | :16:02. | :16:12. | |
:16:12. | :16:13. | ||
Sheila? He denies this. Other shareholders were growing rest lest | :16:13. | :16:21. | |
Db restless. The scheme was bringing in big bucks. It was such | :16:21. | :16:25. | |
a success. An oil firm worth hundreds of millions of dollars. | :16:25. | :16:29. | |
Well, the shareholders were starting to have a voice and people | :16:29. | :16:34. | |
wanted to know what was happening to the company which they had | :16:34. | :16:39. | |
invested in, basically. There weren't proper accounts. There | :16:39. | :16:42. | |
wasn't transparency. People didn't know where the money had gone, if | :16:42. | :16:46. | |
the company had made any money or lost money or made money. It's just | :16:46. | :16:53. | |
a normal thing companies should do, file accounts and produce books, | :16:53. | :16:58. | |
basically. Which seemed to be impossible. Shareholders were in | :16:58. | :17:02. | |
open revolt. Sheila McCaffrey had not only been moved aside. Acting | :17:02. | :17:06. | |
on information, supplied by the company, police in Belize issued a | :17:06. | :17:10. | |
warrant for her arrest. Company property had allegedly been stolen. | :17:10. | :17:17. | |
Sheila was dismissed. Susan brought in new blood. Her cousin joined the | :17:17. | :17:22. | |
Board. My name is jstqust I'm orginally from Belfast in Northern | :17:22. | :17:26. | |
Ireland. When Susan asked me was I truly fulfilled I could feel it | :17:26. | :17:31. | |
inside me. I knew I wasn't. So I jumped at the chance and attended | :17:31. | :17:35. | |
the two week Educo seminar in the Bahamas. To say that the Educo | :17:36. | :17:41. | |
seminar was transforming would be an under statement. Josh Stewart's | :17:41. | :17:46. | |
devotion to Educo made him an ideal candidate to team up with his | :17:46. | :17:50. | |
cousin Susan on the board of INE. It seemed Educo and INE's | :17:50. | :17:54. | |
leadership were almost becoming one, united under Tony Quinn's guidance. | :17:54. | :18:00. | |
A new rule had been introduced. Any further investors would have fo | :18:00. | :18:04. | |
attend Tony Quinn's Educo courses. This commercial law expert, who | :18:04. | :18:09. | |
examined the issue for us, questions that rule. This was very | :18:10. | :18:12. | |
odd particularly because the training courses don't seem to | :18:12. | :18:17. | |
serve any purpose, so far as the business is concerned. To that end, | :18:17. | :18:20. | |
there would be a question whether there would be a conflict of | :18:20. | :18:26. | |
interest there. When a shareholder promotes the company for the gain | :18:26. | :18:29. | |
of his own personal pursuits or another company that he has an | :18:29. | :18:36. | |
interest in, that is a serious conflict of interest The The | :18:37. | :18:40. | |
company say this was a short-term measure for four months to protect | :18:40. | :18:45. | |
INE. Another new allegation now surfaced. Some INE shareholders we | :18:45. | :18:50. | |
spoke to claimed they were being spied upon and that that came to | :18:50. | :19:00. | |
:19:00. | :19:00. | ||
light last year. After the last AGM we had a meeting, that's the | :19:00. | :19:04. | |
shareholders who feel that things aren't right, at that meeting there | :19:04. | :19:10. | |
was a person in the lobby videoing us coming out of the lift. | :19:10. | :19:15. | |
actually followed one of the agents after a meeting in Dundalk. We | :19:15. | :19:21. | |
identified him as a private agent. INE strongly deny they were ever | :19:21. | :19:28. | |
involved in any spying. A number of years had passed since INE hit oil. | :19:28. | :19:33. | |
People like Ralph had yet to see a payout. This was becoming a | :19:33. | :19:40. | |
critical issue. He needed funds fast. His home was now on the line. | :19:40. | :19:47. | |
Others were anxious too. You are generally unhappy though with the | :19:47. | :19:53. | |
way it has been run? I think there needs to be a big window opened on | :19:53. | :19:59. | |
what has been going on. I think the answer to that is, no, I'm not | :19:59. | :20:04. | |
happy. INE claims that it was merely a small number of "dissident | :20:05. | :20:09. | |
investors" who were upset with the company. In a court case in the | :20:09. | :20:11. | |
British Virgin Islands, Sheila tried to get the company to buy her | :20:11. | :20:18. | |
out or be wound up. She didn't succeed. INE claimed that she was | :20:18. | :20:21. | |
motivated by a desire to destabilise it on behalf of a rival | :20:21. | :20:27. | |
firm. The judge had some serious things to say about INE. He found | :20:27. | :20:31. | |
that Quinn should never have been made director of the company. Under | :20:31. | :20:35. | |
its own rules. He criticised the way he and Susan Morrice had been | :20:35. | :20:41. | |
running INE. The judge also painted a picture that appeared to reflect | :20:41. | :20:45. | |
what small shareholders had been saying. I had been tipped off that | :20:45. | :20:49. | |
Dr Quinn was out of the country, giving an expensive mind masters | :20:50. | :20:59. | |
seminar in the sun. I tracked him down to Tenerife. What he and Susan | :20:59. | :21:02. | |
had been up to while at the Helm of INE was now beginning to emerge, | :21:02. | :21:07. | |
thanks to the court action. Tony Quinn and Susan Morrice had told | :21:07. | :21:10. | |
investors that they couldn't pay a dividend because their banks | :21:10. | :21:15. | |
wouldn't let them. The judge had found there was no evidence of this. | :21:15. | :21:18. | |
Now, if shareholders wanted any money they had to apply to their | :21:19. | :21:25. | |
own company for a loan. The judge described this as a bizarre | :21:25. | :21:31. | |
arrangement, designed to punish shareholders of whom Susan Morrice | :21:31. | :21:34. | |
and Tony Quinn disapproved. Quinn though was able to tap into the | :21:34. | :21:40. | |
scheme to the tune of �1.6 million. INE maintains it had paid out | :21:40. | :21:43. | |
millions to investors. While loans had been issued the judge in July | :21:43. | :21:50. | |
said no dividends had been paid. There were further revelations. | :21:50. | :21:55. | |
Quinn's time on the Board was certainly eventful. Almost $2 | :21:55. | :22:02. | |
million had been spent on security and what was described as "counter | :22:02. | :22:04. | |
survellance." Susan Morrice and Tony Quinn claimed their lives were | :22:04. | :22:09. | |
under threat. What the judge called "a private army" had been assembled | :22:09. | :22:13. | |
for Quinn, all with company money. For at least one court room | :22:13. | :22:16. | |
observer what was apparent was Tony Quinn's hold over Susan. A hold she | :22:16. | :22:22. | |
continues to deny. My impression, from talking to Susan and from | :22:22. | :22:25. | |
attending the trial, would be that she is very much under the | :22:25. | :22:29. | |
influence of Tony Quinn. She greatly admires Tony Quinn. She | :22:29. | :22:34. | |
defers to him and she deferred to him in the running of the business. | :22:34. | :22:38. | |
Giving her evidence during the trial she was emotional on various | :22:38. | :22:42. | |
occasions, including at times when relating how Tony Quinn and herself | :22:42. | :22:45. | |
were threatened, or as she said, they came under death threats and | :22:46. | :22:50. | |
other types of threats and felt the need to spend money, large sums of | :22:50. | :22:54. | |
money on survellance and close protection security. Do you feel as | :22:54. | :22:58. | |
if you might have been under survellance? I know I have been | :22:58. | :23:04. | |
under survellance. How does that make you feel? | :23:04. | :23:10. | |
have to make various substantial changes every day in what you're | :23:10. | :23:17. | |
doing. It affects your children. It affects... Everything about your | :23:17. | :23:25. | |
life. And who you talk to. The fact that it changes everything. It | :23:25. | :23:35. | |
changes everything about your life. It is the most deepest forms of | :23:35. | :23:40. | |
infringement of your personal security and personal things that | :23:40. | :23:44. | |
you do every day. Everything is compromised. Susan Morrice denies | :23:44. | :23:48. | |
she ever hired security experts to harass and intimidate shareholders | :23:49. | :23:54. | |
or her former friend. The court case would suggest that Sheila's | :23:54. | :23:58. | |
departure may well have been inevitable "just business". Her | :23:58. | :24:03. | |
treatment, however, was anything but, according to the judge. We can | :24:03. | :24:07. | |
carefully analyse what has happened, back since 2009. If people want to | :24:07. | :24:15. | |
freeze you out, they will stop at nothing doing it. It has been a | :24:15. | :24:23. | |
long, hard, tough time. Tougher than anybody could possibly imagine. | :24:23. | :24:33. | |
:24:33. | :24:38. | ||
And... The judge said there had been a "deliberate policy to make | :24:38. | :24:44. | |
Sheila McCaffrey life as difficult as possible." Susan and her cousin | :24:44. | :24:52. | |
Josh Stewart had also wrongly spent $200,000 of company money attending | :24:52. | :24:57. | |
Quinn's Educo courses. This company is, in one sense, off the rails | :24:57. | :25:01. | |
because the board leading up to the trial of this case was running this | :25:01. | :25:07. | |
company outside of the rule book. They were running it as they wished. | :25:07. | :25:11. | |
The rights of a large majority of the shareholders have been entirely | :25:11. | :25:16. | |
ignored. So, from my view, from reading the judgment, the judge was | :25:16. | :25:21. | |
very critical of the way in which this company was run. I would | :25:21. | :25:26. | |
perceive this as an indictment on the way in which these people have | :25:26. | :25:30. | |
run this company. Quinn's allocation of nearly $16 million in | :25:30. | :25:35. | |
shares is now in question. In all, millions of dollars of INE money | :25:35. | :25:42. | |
has found its way to Quinn, via a loan, Educo seminars and the shares. | :25:42. | :25:46. | |
He should never have been on the Board. I wanted to know if he | :25:46. | :25:52. | |
intended to pay that money back? Time to talk to Tony. It's the | :25:52. | :25:57. | |
first time that Educo has come to Tenerife. This luxury hotel is the | :25:57. | :26:00. | |
location Tony Quinn has choosen to introduce new members to the Educo | :26:00. | :26:04. | |
way of life. Both tbg it can and Susan Morrice had declined our | :26:04. | :26:10. | |
requests that they be interviewed for this programme. -- Tony Quinn. | :26:10. | :26:16. | |
Are you going to pay back the INE shareholders the money they say you | :26:16. | :26:21. | |
owe them? Are you going to pay back INE the money, the millions the | :26:21. | :26:25. | |
shareholders say you owe them? Have you any comment about the money | :26:25. | :26:30. | |
that the INE shareholders say you owe them? Following his removal | :26:30. | :26:36. | |
from the INE Board, his role and shomeding in the company remain | :26:36. | :26:40. | |
unclear. After I tried to put questions to him, Dr Quinn later | :26:40. | :26:44. | |
contacted us saying he had nothing to do with Sheila's departure. | :26:44. | :26:49. | |
Actually abstaining from the vote to cast her out of INE. He also | :26:49. | :26:53. | |
denies hypnotising anyone. Susan Morrice denies using company money | :26:53. | :26:59. | |
wrongly, but still advocates the Educo courses for staff members. | :26:59. | :27:02. | |
What of Dr Quinn's vast shareholding in the company. This | :27:02. | :27:07. | |
is the letter apparently granting Quinn his shares. A judge found it | :27:07. | :27:11. | |
was a forgery back dated to Lee gitmiez the transfer. Sheila denies | :27:11. | :27:16. | |
she was party to this and said she had not signed the letter. INE now | :27:16. | :27:21. | |
claims that this undated photo is proof she lied to the court. It | :27:21. | :27:27. | |
also says the photo is backed up by accounts from eyewitnesses to the | :27:27. | :27:35. | |
event. Sheila denies any wrong- doing. A week before my encounter | :27:35. | :27:40. | |
in Tenerife, just before the investors' Annual General Meeting, | :27:40. | :27:45. | |
INE had finally made a multi million dollar payout of dividends. | :27:45. | :27:51. | |
The last-minute payout had done little to quell anger among | :27:51. | :27:56. | |
shareholders. They were demanding wholesale reform of INE. Many | :27:57. | :28:00. | |
seemed willing to back Sheila McCaffrey, who has yet to receive | :28:00. | :28:04. | |
her dividend. I'm happy today. I haven't been happy up until today. | :28:04. | :28:09. | |
Hopefully, today is the day when things start to change. Sheila has | :28:09. | :28:15. | |
been reinstated as a cr director. She needs to be giving back bg -- | :28:15. | :28:22. | |
backing from the company. Susan contests all of Sheila McCaffrey's | :28:22. | :28:26. | |
allegations and says that every aspect of the company's operation | :28:26. | :28:30. |