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Bonuses, director deals in spotlight amid CEO sacking spat – 28 January 2021
The chief executive of Australia’s biggest smash repairer, AMA, faced sacking over allegations about him pocketing expense claims and bonuses without approval.
(Access to AFR digital required to read full article.)
‘Bogus’ bond scams luring millions: ASIC – 28 January 2021
ASIC has warmed that imposters are offering bogus high-yield bond fund opportunities with fake prospectuses. The scammers state that the bonds are issued by “prominent financial services firms” before directing their targets to pay funds into a bank account – resulting in the funds potentially being permanently lost.
https://www.investordaily.com.au/regulation/48594-bond-scammers-stealing-millions-asic
Two men extradited from Australia to United States over alleged $64 million scheme – 28 January 2021
Michael Pearse and Yongchao Liu have been extradited to the United States from Australia, to face charges over their alleged roles in a scheme to swindle hundreds of thousands of mobile phone users, out of more than 64.6 million. They allegedly used a practice called “auto-subscribing” to charge monthly fees for unsolicited messages about celebrity gossip, horoscopes, jokes, love tips and trivia, without customers’ knowledge or permission.
Government inquiry clears former Australia Post CEO Christine Holgate of wrongdoing, but reveals more corporate credit card spending – 27 January 2021
The federal government has published its previously unreleased report into former Australia Post chief executive Christine Holgate’s decision to gift four luxury watches to staff members. The report found that the gifting of the $20,000 watches to employees, did not amount to corruption or fraud but was “inconsistent with public expectations”.
