Concealing the Deeds

The essence of this fraud is the criminal concealment of the original Trust Deed made on the 23 December 1913 and genuine Deeds of Variation executed before 1980 from the cestuis que trust {ie members and beneficiaries} by parties who were not even lawfully appointed to the office of trustee.

The former Fund Secretary Margaret O’Halloran dishonestly claimed that the purported Trustee, CCSL Limited, was not in possession of any executed Deeds of the trust dated before 26 August 1986.

The earliest purported “Trust Deed” that Ms O’Halloran claimed she could locate was the purported Deed of Variation executed by the well known white-collar criminal Ken Jarrett.

Trustee 21 Aug 2009

 

When a complaint was lodged with the Prudential Regulator – APRA in relation to the purported Trustee not being in possession of the original Trust Deed and any Deeds of Variation executed before 26 August 1986, the former CEO of CCSL Limited, Mr Nicholas Brookes, assured Mr Bradley Johnston of APRA in a letter dated 24 June 2010 and marked “STRICTLY CONFIDENTIAL” that the purported trustee did in fact have possession of the original Trust Deed made on the 23 December 1913 and all subsequent Deeds of Variation.

Mr Brookes assured Mr Johnston that members and beneficiaries were welcome to inspect all the Deeds, however this commitment was never communicated to the members and beneficiaries of the fund.

In a pension fund, membership terminates with death and not with the termination of the Contract of Employment. Even in a “Lump Sum Benefit” superannuation fund where membership of the fund terminates with the termination of the fund, the former member still retains a beneficial interest in the fund as a “beneficiary” and thus retains the ability to ensure that the correct benefit is paid by the trustee.

A “beneficiary”, in ordinary language, is a person for whose benefit a trust is to be administered and who is entitled to enforce the trust according to its terms
 Kafataris  v The Deputy Commissioner of Taxation [2008] FCA 1454 at [42]
If a trustee could pay a purported benefit, but the beneficiary was then denied the right to have access to the Deeds of the Trust, this would enable a trustee or a purported trustee to commit the perfect crime.

That is what the former Fund Secretary dishonestly claimed in a letter dated 13 November 2009 and again in a letter dated 9 June 2011.

 

Trustee 9 June 2011

 

The only documents that a trustee is not required to provide to a person who has a beneficial interest  (or a “concerned person“) in a superannuation trust and who lodges a written request are prescribed by subsection 1017C(4) of the Corporations Act 2001. Otherwise there are prescribed documents that include all the Deeds of the trust that must be provided “free-of-charge” pursuant to subsection 1017C(5) and Regulation 7.9.45, while the trustee is able to levy a “cost recovery fee” for the provision of other non-exempt documents and information pursuant to subsection 1017C(2) of the Corporations Act 2001 and Schedule 10A part 11.1 of the Corporations Regulations 2001.

It is an indictable offence for a “Responsible Person” of a trustee to contravene subsection 1017(2) or subsection 1017C(5) of the Corporations Act 2001 with a maximum penalty of a fine and two years imprisonment .

Ms O’Halloran after refusing to provide access to non-exempt “Trust Documents” also dishonestly advised taking a complaint concerning this criminal conduct to the Superannuation Complaints Tribunal, however due to the Separation of Powers doctrine the Tribunal is unable to deal with complaints that involve the contravention of “any law or governing rule of the fund“. The Tribunal can only deal with complaints where a trustee has acted lawfully but has made a “decision” that may be considered to be “unfair or unreasonable” such as declining to release benefit early in the case of a claim for permanent and total disability.

Therefore it would be a complete waste of time lodging a complain with the Tribunal alleging the criminal concealment of the Deeds of the Fund.

More information of the fraudulent “Jarrett Deed“dated 26 August 1986 that was misrepresent at the “Trust Deed“by the former Fund Secretary can be found here

ASIC Assists in Concealing the Genuine Deeds

A key aspect of this fraud is how ASIC has assisted the purported Trustees to conceal the genuine Deeds from the Members and Beneficiaries of the occupational pension trust established on the 23 December 1913. More details on how ASIC has assisted in the criminal concealment of the original Trust Deed and Deeds of Variation executed before 26 August 1986 can be found here.


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