10 stories this week:
UK billionaire whose family trust owns Tottenham soccer club pleads not guilty to insider trading – 27 July 2023
Joe Lewis, the British billionaire whose family trust owns the Tottenham Hotspur soccer club has pleaded not guilty to insider trading in New York federal court. It was alleged that he fed corporate secrets to romantic partners, personal assistants, friends and his pilots, earning them millions of dollars illegally. Mr Lewis was charged with 16 counts of securities fraud and three counts of conspiracy.
https://www.abc.net.au/news/2023-07-27/joe-lewis-tottenham-billionaire-pleades-not-guilty/102654298
PwC reveals private settlement over undisclosed matter with Tax Office, as it contended with unfolding tax leak saga – 27 July 2023
PwC has confirmed that it privately settled with the Australian Tax Office (ATO) over an undisclosed matter, while the firm contended with a confidentiality breach within its ranks. At the time the firm was still claiming its confidentiality breach was contained to a single former partner. The Treasurer said he was not aware of the arrangement, and would raise it with the ATO.
https://www.abc.net.au/news/2023-07-27/ato-settled-with-pwc-before-tax-leak-scale-known/102654506
ATO reveals more than $550M lost to online fraud – 28 July 2023
The Australian Taxation Office (ATO) lost more than $557 million to fraudsters using personal details from hacks on Optus and Medibank to create fake MyGov accounts. The cyber criminals were able to bypass the identity checks that would normally be sent to the ATO’s customers by hacking their accounts, with the help of the previously compromised credentials.
Accountant admits transferring cash to ‘fraud account’ to pay gambling debts – 31 July 2023
James Redmond Burrows has pled guilty to 113 fraud-related charges over four years totalling $1.4million. A court has heard he used his clients money to fund his gambling addiction.
https://www.abc.net.au/news/2023-07-31/james-redmond-burrows-tax-agent-fraud-guilty-plea/102668756
Victoria’s anti-corruption watchdog in spotlight as fallout from Operation Sandon report continues – 31 July 2023
A property developer at the centre of a damning report by Victoria’s anti-corruption watchdog has defended himself in a lengthy press conference in Melbourne. The five-year investigation found developer John Woodman had plied suburban councillors with hundreds of thousands of dollars in exchange for project support.
https://www.abc.net.au/news/2023-07-31/operation-sandon-ibac-report-response-john-woodman/102669444
Australia: Whistleblower protections in the private sector – 1 August 2023
This article considers whistleblower protections in Australia, including:
protected disclosure schemes;
private sector whistleblowing;
what is a ‘protected disclosure’;
confidentiality and protection from victimisation;
remedies, penalties and compensation; and
privileges and immunity.
Former banker allowed to contact husband after fraud charges – 3 August 2023
Sara Daizli, a former bank staffer will be allowed to contact her husband after they were both allegedly involved in a financial scam syndicate. She has pleaded not guilty to 237 charges of defrauding financial institutions for her own benefit. Police claim the 31-year-old used her role at the bank to open accounts in fictitious names and allegedly siphoned money into her bank account under a false name.
Hawthorn Football Club cultural safety review author Phil Egan facing fraud charges – 3 August 2023
Phil Egan, the man who accused the Hawthorn Football Club of racism has been charged with 73 offences including obtaining financial advantage by deception, the use of false documents, and secret commission. The allegations of financial mismanagement relate to Mr Egan’s time as CEO of the Murray Valley Aboriginal Cooperative.
https://www.abc.net.au/news/2023-08-03/phil-egan-charged-fraud-offences-hawthorn-afl/102683484
Fraud squad tackles NDIS rorts as payments skyrocket – 3 August 2023
More than $400 million in NDIS payments are being investigated for fraud. The investigations are being overseen by a fraud task force, set up in October to examine rorts of the scheme.
Since April, an extra $100 million worth of possible fraudulent payments are being looked at by the task force.
