Deceiving the Senate Committee

{Published on 15 November 2014}

    PR 15 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?

The attached letter to the Senate Economics Reference Committee confirms that the Senators on this Committee were 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.

One of the documents is a consolidation Deed of Variation vetted by a Select Committee of the Legislative Council of South Australia and the other is a document signed by a well know white-collar criminal who served a term of imprisonment for dishonesty.

Yet ASIC does not have the wherewithal to figure out which document is genuine and which document is fraudulent! If widows can be robbed of their pensions by a document signed by a well known white-collar criminal with a prior conviction, how many other members of superannuation funds have been robbed by unknown white-collar criminals?

The Acting Assistant Treasurer, the Hon Mathias Cormann may wish to ask the Chairman of ASIC, Mr Greg Medcaft for an estimate!