![Eddie Obeid arrives at the Darlinghurst court complex for sentencing on Thursday.](/web/20161218012424im_/http://www.smh.com.au/content/dam/images/g/t/b/i/h/d/image.related.landscape.460x307.gtd2rd.png/1481896279752.jpg)
Obeid's legal bill given $10m boost with property sale
The finances of the embattled Obeid family have been given a $10 million boost with a property sale that could help pay for their numerous legal battles.
Kate McClymont is a Senior Reporter for The Sydney Morning Herald.
The finances of the embattled Obeid family have been given a $10 million boost with a property sale that could help pay for their numerous legal battles.
There was a deathly silence around the cabinet room. The seven words just uttered by the usually silent fisheries minister Eddie Obeid had shocked his colleagues to the core.
Edward Moses Obeid has spent his first night in prison after being jailed for a maximum of five years over his family's secret business dealings at Circular Quay, in an inglorious end to his 20-year political career.
Former Labor Premier Morris Iemma declares it 'a great day for NSW'.
Eddie Obeid is not the first politician to do a stint behind bars, although he is among the oldest.
After 20 years in state Parliament, a string of corruption findings and a criminal trial, Eddie Obeid has been jailed for a maximum of five years for misconduct in public office.
Moses Obeid could not have known his perjury would destroy the Obeid empire, and eventually lead to the jailing of his father.
"One day when the records of this state are written, I'll be a part of it," Eddie Obeid proudly boasted to The Sydney Morning Herald upon his elevation to ministry of Bob Carr's Labor government in 1999.
Despite having no formal qualifications and a conviction for fraud, for years a former bankrupt who bought his PhD on the internet has been able to pass himself off as a psychologist in both Sydney and Melbourne.
For weeks now four vans bearing photographs of a Sydney businessman emblazoned with false accusations that he is a "corporate thief" and a "fraudster" have been turning up outside an office block in Bligh Street.
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