ASIC, loosing its senior staff

November 15, 2010

If ASIC wants to keep its senior staff, send them to chase the Melbourne business establishment, Australia's biggest organised crime syndicate. There is more to corporate regulation than writing out speeding tickets for tiddling mining companies. ASIC could start with a raid on the KPMG Couta Boat day in January. ASIC could get enough info to keep them busy on interesting cases for years. The directors of Orica would be of interest, KPMG carried out a false audit of Orica and helped Malcolm Broomhead get away with $30-40 million, and is going in again for a few million more at BHP and a few other companies. The NAB and UniSuper Fund all benefited at the expense of the small shareholders of Orica. Sailing with Peter Costello, the Australian representitive on the World Bank Anti-Corruption Commission seemed to be a good method of avoiding any kind of scrutiny. Why is that that there is next to no corporate crime in Australia ???. Catherine Walters is one of the most corrupt and incompetent company directors in Australia, but sits on the board of Australian Foundation Investment Co. with Don Argus, (she is ex NAB, ASX, the world's most corrupt stock exchange, and Orica) Don Mercer is at Newcrest, and Saint Dr. Michael Chaney AO is at NAB and Woodside. These people are all acting honestly and get independent assessors to double-check that they are acting honestly. Corporate govenance is a farce in Australia.

For more information, please visit

<< Back to News