Category: Fraud and Insolvency

Luna Park Sydney has had a long and sometimes turbulent history in Sydney. The Amusement park is located on the north side of Sydney Harbour at Milsons Point. It's smiling face has been part of Sydney landscape for much of the park's life since it opened...

Macquarie Bank's sale of loan book creates problems for clients The facts behind the case Mr Goodridge (the Borrower) entered into a margin lending loan arrangement with Macquarie Bank in May 2003.  On 8 January 2009 Macquarie Bank sold their “loan...

The Association of Certified Fraud Examiners (ACFE) have a free report Occupational Fraud: A Study of the Impact of an Economic Recession available from their website. ACFE President James D. Ratley, CFE says "Desperate people do desperate things....

The Australian Securities and Investments Commission (ASIC) has found a North Sydney Solicitor guilty of advising eight of his clients engage in activity which breached the Corporations Act. This significant case sends a warning to all business advisors....

Insolvent Trading is a serious issue. As a director of a business you have a responsibility to not let your organisation engage in insolvent trading. This occurs when debts are incurred but at the time it is know they will not be able to be paid as and...

How to protect your business from departing staff set on stealing from you The Australian Financial Review, on 15 October 2010, published a very helpful and insightful article called “Bosses’ Byte Back to Protect Secrets”. The article noted that...

When USA based WorldCom Inc fell victim to an $11 billion accounting scandal it resulted in the company filing for bankruptcy. In 2002 it was the largest bankruptcy in US history. Corporate fraud occurs in Australian businesses.  Most business fraud...

The Facts of Norco Co-Operative Limited v Kelly [2010] NSWSC 719 Employee HK worked for Norco from 26 March 2001 to 10 February 2009.  In the course of her employment she fraudulently and dishonourably misappropriated amounts totalling at least...

When ASIC investigators give you a notice of examination it means they believe you have information which will help them in an investigation. You do not have the "right of silence". The Situation A businessman who had had dealings with a particular...

Breach of employment contract turns into an expensive lesson for employee When you hire someone to do a job it is natural to expect the employee to do their job and to be loyal to their employer and not help a direct competitor. Failure to do this...