Thurrock council ignored bankruptcy warnings and took ‘unprecedented risks’
by Patrick Butler Social policy editor from World news | The Guardian on (#66BW0)
Documents show Thurrock failed to act despite being cautioned about scale and risky nature of investments
The Tory-led Thurrock council, which is on the brink of bankruptcy after losing hundreds of millions of pounds on failed commercial investments, repeatedly ignored warnings from financial experts over the unprecedented risks" it was taking with public money, it has emerged.
According to documents obtained by the Bureau of Investigative Journalism (BIJ), Thurrock's top finance official failed to act despite being cautioned about the scale, speed and risky nature of the council's investments.
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