Welcome to ‘Paradise’

{Published on 25 October 2014}

PR 25 Oct 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 Assistant Treasurer, Senator the Hon Mathias Cormann.

At the Senate Estimates Hearing Senator John Williams said to Mr Medcraft: “Welcome to Paradise.”

If Australia was no ‘Paradise’ one would expect a white-collar criminal who had previously served a term of imprisonment would not be handed a “get out of jail free” card by law enforcement agencies in relation to an even more serious white-collar crime.

The Assistant Treasurer has now been provided with the two documents that confirm a major superannuation fraud that has robbed widows of their pensions.

The first document is a purported Deed of Variation attested by the well known white-collar criminal, Mr Ken Jarrett.

The second document is a consolidation Deed of Variation that has been criminally concealed from the cestuis que trust (members and beneficiaries) by other white-collar criminals masquerading as “trustees”. This document has been vetted by a Select Committee of the Legislative Council pursuant to the Elder Smith & Co Limited Provident Funds Act 1963 (SA).

Superannuation funds are the perfect target for white-collar criminals given the amount of funds under the direct control of a few “trustees” in a COMPLUSORY superannuation system.

The Assistant Treasurer has called the leader of the Opposition, the Hon Bill Shorten MP, an “economic girlie man”, however Mr Shorten stepped up to the plate and paid compensation to victims of a major superannuation fraud.

The Assistant Treasurer has now been provided with a genuine Deed that confirms the purported Deed attested by a white-collar criminal to be void and fraudulent.

The Assistant Treasurer has legal qualifications and does not need the Chairman of ASIC to tell him the “Jarrett Deed” is fraudulent.

It remains to be seen if the Assistant Treasurer, will also step up to the plate and pay PROMISED compensation to widows and other victims of Mr Jarrett and his associates.  Or perhaps the Assistant Treasurer is the real “economic girlie man” where rhetoric concerning white collar-crime is more important than the reality.