HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Places » International » Australia (Group) » The PUP! » Reply #14
In the discussion thread: The PUP! [View all]

Response to foreigncorrespondent (Original post)

Thu Jul 24, 2014, 09:29 PM

14. Clive Palmer 'dishonest' in use of $12m from Chinese companies, court told

Clive Palmer has been accused of “dishonesty” and assisting in a “fraudulent breach of trust” for his role in the use of more than $12m in funds from his former Chinese business associates, documents filed in the Queensland supreme court show.

A statement of claim filed on behalf of two Chinese owned companies – Sino Iron Pty Ltd and Korean Steel Pty Ltd – alleges that two separate payments of $10m and $2.167m of funds held by the Palmer-controlled company Mineralogy were made in breach of a purported agreement to spend the funds only on port management services.

The companies argue that instead the $10m amount was sent to Cosmo Developments Pty Ltd, which is controlled by Palmer and is also a defendant in the proceedings. The $2.167m amount was sent to Media Circus Network Pty Ltd, the companies allege. The Brisbane-based advertising firm has previously been ordered to produce details of the payment.

The documents say that Palmer “knowingly assisted” in an alleged breach of trust by Mineralogy for the two amounts. They said that Palmer signed two cheques that authorised the two payments to Cosmo Developments and Media Circus Network.

http://www.theguardian.com/world/2014/jul/24/clive-palmer-dishonest-in-use-of-12m-from-chinese-companies-court-told


Clive really does seem to believe that as a billionaire, he doesn't have to play by any of the rules that apply to everyone else, either in business or in the parliament. As he said after his now-infamous stoush with the Chief Clerk of the Senate, "I didn't get to be a billionaire by taking advice from anyone else". Quite.

Trust him? I don't think so.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 15 replies Author Time Post
foreigncorrespondent May 2014 OP
Matilda May 2014 #1
foreigncorrespondent May 2014 #2
Matilda May 2014 #3
foreigncorrespondent May 2014 #4
Matilda May 2014 #5
foreigncorrespondent May 2014 #6
Matilda Jun 2014 #7
foreigncorrespondent Jun 2014 #8
Matilda Jun 2014 #9
foreigncorrespondent Jun 2014 #10
Violet_Crumble Jun 2014 #11
Matilda Jul 2014 #12
Matilda Jul 2014 #13
LineNew Reply Clive Palmer 'dishonest' in use of $12m from Chinese companies, court told
Matilda Jul 2014 #14
Matilda Oct 2014 #15
Please login to view edit histories.