The “Cohen Resolution”

{Published on 1 Dec 2014}

The following documents were provided to the Australian Crime Commissions that replaced the former National Crime Authority.

ACC 1 December 2014 CEO

The Cohen Resolution

PR 1 Dec 14  

The Chairman of ASIC, Mr Greg Medcraft, has claimed that Australia is a ‘Paradise’ for white-collar criminals – a statement he was forced to retract by the Acting Assistant Treasurer, Senator the Hon Mathias Cormann.

There are a number of white-collar criminals that should be well known to the Australian Crime Commission (ACC) that have an involvement in Australia’s Wost White-Collar Crime, including:

  • Ken Jarrett
  • John Dorman Elliott
  • Ken Biggins, and
  • Peter Scanlon.

Another well known white-collar criminal is Geoffrey Cohen who was the Chairman of the company involved in Australia’s largest corporate collapse – HIH Insurance Ltd.

Cohen was subject to heavy criticism by Owen J in the HIH Royal Commission Report and was then banned by APRA under the Insurance Act 1973 and criminal charges were laid by ASIC.

Mr Cohen was also the Chairman of the renamed Elders IXL Superannuation Fund, from 1990 to 2001 when it was known as the Foster’s Brewing Group Superannuation Fund as well as a Director of the sponsoring Employer.

In 1996 Mr Cohen had a member-elected Director sacked with one day’s notice, effective the day before he was due to attend his first Board Meeting.

The reason being the member-elected Director had requested copies of certain “trust documents” that could have potentially exposed this fraud in 1996.

After the member-elected Director commenced legal proceedings against the purported corporate Trustee, Mr Cohen executed a purported “Resolution” dated 18 June 1998 that purported to close the Defined Benefits Division established on 23 December 1913 to new members and to establish an Accumulation “sub-fund” for new employees to join, which was referred to as the Division 5 sub-fund.

However the conditions and restriction imposed by the amending power {Regulation 50} as referenced by the Elder Smith & Co Limited Provident Funds Act 1963 (SA) were not complied with by Mr Cohen and therefore the “Cohen Resolution” is void and ineffective.