Author: Michael West

Jevtovic: the cop behind the CBA sting

Too big to fail, too arrogant to accept the law, the Commonwealth Bank would not have been prosecuted except for one man, Paul Jevtovic. We know now how Australia’s biggest bank refused to cooperate with regulators before AUSTRAC called its bluff and sued. Formerly at the Australian Federal Police, Jevtovic took the CBA case to AUSTRAC. Nathan Lynch reports on his interview with the policeman. On his last day at AUSTRAC, I had the opportunity to interview Jevtovic about his time and achievements at the agency. He described his two-and-a-half-year tenure at AUSTRAC as one of the highlights of...

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Impunity for tycoon Taib in Australia’s money-laundering paradise

Australia’s status as a paradise for money launderers will be further entrenched in coming days as a Swiss non-government-organisation (NGO) releases confidential documents relating to corrupt Malaysian businessman Taib Mahmud. As former governor of Sarawak province, Taib Mahmud is responsible for logging large tracts of rain forest in Borneo. He was identified two years ago here for laundering $30 million through an investment in Adelaide’s Hilton Hotel. Allegations family of Malaysian billionaire Taib Mahmud ‘laundered’ money in Australia understands that since the Taib arrangements in Australia were exposed by Bruno Manser Fund two years ago, there has been...

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Did Ciobo instruct Efic to fund Adani?

It finally came this week, just what we had expected, evidence of the Federal government’s desperation to fund the Brobdingnagian white elephant which is the Adani coal mine. If this week’s slavering coverage in the Murdoch press is any guide, the latest plot appears to be to deploy taxpayers’ money, via a government agency, to guarantee bank loans for the thermal coal mine, Australia’s most controversial project and one which has aroused the ire of conservationists and around the world. Earlier this year, in writing a report for the Australian Conservation Foundation, had put detailed questions to the Federal...

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Tycoon Broker: $2 billion or 2 bob?

“Taylor Dow, director of Taylor Dow Property Group, which last year sold $2 billion of Australian property to buyers in seven countries … said commissions range from 5 per cent and 15 per cent.” The Australian Financial Review, February 23, 2017: Two billion dollars is a lot of sales. How did Taylor Dow; this young, self-described “tycoon broker” sell $2 billion worth of property in one year? “We cut out the middle man,” he told the AFR in the interview. Taylor must have cut out of lot of middlemen. John McGrath, with his salesforce of 657 agents, 102 offices...

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