Stranger than fiction — the eircom story
The committee then decided that it, in fact, owned the company and not the people who had paid for it. However, to soften the blow, they said, “look, we’ll sell it back to you and you will make a profit when you sell it on”.
Still disgruntled, but sightly mollified by the sniff of money, the people bought the company and all of them lost even more money.