The Correct Answer

{Published 18 November 2014}

The following document was provided to the former Acting Assistant Treasurer.

Senator Cormann 18 November 2014

  PR 20 Nov 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.

The victims of Australia’s Worst White-Collar Crime lodged a number of submissions with the Senate Inquiry into ASIC, but none were called as witnesses. Why was that?

Senate Economics Reference Committee was deceived by ASIC Officers who falsely claimed that there was “No Evidence”, when the fraud against the widows and other beneficiaries can be proven by just two documents and an Act of the Parliament of South Australia.

The Senate Committee in the Questions of Notice made reference to the following allegation:

“The submissions allege that the original trust deed was fraudulently altered and the conditions of the original deed are not being complied with (ie the pensions are not being paid).”

To respond to this allegation ASIC should have provided the Senate Committee with a response that covered how the terms of a properly constituted trust can be lawfully amended or altered.

Since ASIC failed to provide the correct answer to the Senate Committee, the correct answer has been provided to the Acting Assistant Treasurer in a letter dated 18 November 2014.

It is a contempt of the Senate to provide false and misleading evidence to a Senate Committee.

The Acting Assistant Treasurer, the Hon Mathias Cormann has a power pursuant to Section 14 of the ASIC Act 2001 to compel ASIC to undertake a proper investigation which involves obtaining copies of the genuine Deeds that have been criminally concealed from the members and beneficiaries of an occupational pension fund established in 1913.

So will the Acting Assistant Treasurer allow a well known white-collar criminal with a prior conviction for dishonesty to triumph yet again?

Or will the widows at long last receive their survivorship pensions and other beneficiaries their lawful retirement and retrenchment benefits?

Their fate is in the hands of the Acting Assistant Treasurer.

The Acting Assistant Treasurer by his own actions or inactions will confirm if Australia is in fact a ‘Paradise’ for white-collar criminals.