Friday, October 26, 2012

ASIC examines trading spike

The market regulator is examining an sudden spike in the share price of a number of ASX 200 companies.
Most noticeable was a large, brief spike in ANZ shares, which jumped from Wednesday's close of $25.96 to $27.63 at the opening of Thursday's trade.

ANZ shares later stabilised to be trading up 0.5 per cent at $26.08 by Thursday afternoon.

Commonwealth Bank shares also traded in a wide range from $57.50 at the open to as low as $56.81 within 10 minutes of trade commencing.

The sharp movements in several major companies were enough to drive the ASX 200 index up almost 40 points at the open to 4,568 before it immediately plunged back to 4,547.

The market later stabilised to be 0.9 per cent higher at 4,571 after some positive Chinese economic data.
The Australian Securities and Investments Commission (ASIC) says it is looking into the volatile early trading but has not launched a formal investigation.

"ASIC is aware of a surge in the share price of a number of major ASX 200 stocks this morning and, in line with its normal practice, is looking into the matter and has commenced enquires with the market participants involved in trading in these stocks and related derivatives," it said in a statement.

"More broadly, market integrity is fundamental to what we do and if we detect any potential breaches of the law or market integrity rules we will take timely and appropriate action."

The major companies affected by unusually large opening share spikes were those at the beginning of the alphabet, which begin trading first on the share market as it progressively opens from 10am.

"The prices of a number of securities opened substantially higher than their previous close due to strong, early buying orders. Prices generally retreated shortly after the market opened," the ASX noted in a statement.

"Most impact was experienced by certain stocks in the AB group, including AMP, ANZ, AGL and Brambles."

Volatility

Some brokers have suggested the spike may have been related to options contracts connected to the ASX 200 index, known as XJO options, that are expiring today.

The price of those options is related to the opening value of the ASX 200, and there are concerns that this morning's spike may have been an attempt to manipulate the value of those options.

The ASX says volatility is usually higher on days when major options are expiring.

"Today was the expiry day for the October ASX 200 Index futures contracts, which often generates heightened trading activity as investors seek to unwind their positions," the exchange added in its statement.
Some traders say the unusually large spikes may have simply been the result of some human or computer generated error.

CMC's chief market strategist Michael McCarthy also says the price spike may have represented a market imbalance generated by traders legitimately closing off positions relating to the expiring options.
"The way some traders close out their positions, and investors as well, is to execute share trades on the opening this morning," he told ABC News 24.

"So it's quite possible that some of those moves we saw simply represented a temporary imbalance in those share prices rather than anything untoward."

abc.bet.au 18 Oct 2012

The Big 4 (referring to ANZ, Commonwealth, NAB, Westpac) banks ARE in collusion with each other as reported many times.

Fraud and insider trading is rampant at the Stock Exchange level.

The so called watchdog will be spineless and do nothing, as this is a global policy.

The interests of the brotherhood outweigh the interests of the general populous.

Premier Ted Baillieu stands solid in support of embattled MP Geoff Shaw

IMAGES revealing besieged MP Geoff Shaw making obscene hand gestures is at the heart of the latest fiasco embroiling the Baillieu Government. 

The footage - finally released to the public late today after a day of farce at State Parliament - contradicts statements issued from the Premier's office attributed to Mr Shaw yesterday.

Maintaining his view that the footage was inconclusive, Mr Baillieu stood by Mr Shaw while also trying to combat mounting anxiety among Coalition colleagues that plunging public opinion could see them dumped from office.

A Newspoll survey shows Labor has surged to a commanding 55 per cent to 45 per lead over the Coalition, with those dissatisfied with Mr Baillieu's leadership jumping to 53 per cent - up 24 points in just a year.

Footage captured on the Parliament House cameras yesterday morning shows Mr Shaw simulating masturbation in an apparent insult directed at Labor MPs.

Audio from the brief recording is less clear and, while Mr Shaw can be heard shouting across the chamber at Opposition MPs, it is difficult to determine if he said ''wanker'' or ''whacker'' - though the accompanying hand gesture suggests the former.

Under attack over his handling of the controversy, Mr Baillieu told parliament he had watched the vision, but could not draw the same conclusions as others.

''I've looked at that footage on three occasions and that footage is very, very brief ... I do not believe I could reach a conclusion,'' Mr Baillieu said.

As debate moved to the public's right to see the footage for themselves, Liberal Speaker Ken Smith told parliament he would release the footage.

The emergence of the vision calls into serious doubt a formal statement attributed to Mr Shaw that was issued from the Coalition Government's official media distribution email yesterday.

The statement denied Mr Shaw had made ''any offensive gesture'' and instead claimed he had ''pointed'' at Opposition members.

Mr Shaw also claimed he had used the word ''whacker'', and not the more offensive term.
Opposition Leader Daniel Andrews said protecting Mr Shaw during yet another controversy showed Mr Baillieu was a failed leader.

''Premier Ted Baillieu has absolutely no choice today but to sack the routing and lying member Geoff Shaw from the parliamentary Liberal Party,'' Mr Andrews said.

''The camera does not lie, Geoff Shaw, however, has been lying about these matters. His conduct was obscene, his conduct was wrong, the only thing more obscene was his attempts to try and cover it up.''
The Parliament's Privileges Committee will begin investigating allegations that Mr Shaw rorted his taxpayer-funded car and fuel card in the coming weeks in line.

Holding power by a single seat, Premier Baillieu cannot afford to loose Mr Shaw from his party or the parliament.

Mr Andrews said he would not welcome the Frankston MPs vote on supply issues if he was forced onto the cross benches.

This week's controversy is not the first time the similarity of the words whacker and wanker have become an issue in State Parliament.

In 2007 Ken Smith himself was ordered to withdraw his labelling of Rob Hulls as a whacker, only to inform the parliament of his true meaning.

''I withdraw saying the minister is a whacker,'' Mr Smith said
.
''I really meant to call him a wanker. I withdraw.''

heraldsun.com.au 25 Oct 2012

The actions of Geoff Shaw are that of a low class uneducated slum dweller, and not that of an alleged statesman.

If such a gesture was directed at a woman, then the feminist lobby would ensure his resignation.

Since politics is a 'Money for Mates' deal Shaw will have the support and full backing of the government.

It just goes to show what sort of thugs are in politics.

$660 million crash to hit investors

UPDATE: QUESTIONS are being asked of government regulator the Australian Security and Investment Commission over what actions it took prior to the $660 million collapse of the Banksia Financial Group. 

Thousands of investors are facing hundreds of millions of dollars in losses after the shock collapse.
ASIC was allegedly informed about the precarious position of Banksia, and a subsidiary Statewide Secured Investments 18 months ago, according to NSW property developer David Hawkins who was involved in litigation with the firm.
"The regulator has been on to them for about 18 months ... (but) ASIC have sat on their hands," Mr Hawkins claimed.
"Ive been waging war against them (Banksia), as have about four other people in relation to their lending practices," he said.

Mr Hawkins was involved in court action with Banksia over a $2.2 million property deal after Banksia withdrew their support for the project.
But he said Statewide had been lending money in NSW "like a drunken sailor" when Banksia amalgamated with it in 2009.
He claimed Statewide had contested liabilities of $28-$30 million at the time but Banksia had insisted it would not inherit the firm's debt, even though it provided security for costs in a number of court cases.
Mr Hawkins said major residential, hotel and commercial developments in Sydney had faced multi-million dollar valuation and financing problems, helping to bring the collapse on.
ASIC said it was "aware" of yesterday's developments with Banksia but did not disclose when it was first notified about the financial group's problems.
ASIC spokesman Andre Khoury said the commission was "actively engaged" with Banksia's trustee and receiver.
Mr Khoury said ASIC was not a prudential regulator.
"ASIC’s historical work in this sector reflects the fact that a disclosure regime is in place for debentures, coupled with the requirement that a trustee is in place to monitor the issuer and seek to protect the interests of debenture holders," Mr Khoury said.
Banksia appointed receivers yesterday owing investors $660 million.
Banksia fell into receivership after a recent review of its non-performing loans.
About 3000 investors in eight towns and cities in regional Victoria have had their investments frozen while receivers McGrathNicol work their way through the non-bank lender's accounts.
About 100 workers also are set to lose their jobs.
The collapse has shocked communities across the state.
Kyabram resident Jason Dunn said the town was reeling.
"People are in tears," he said.
He said many locals feared they would lose their retirement fund.
"People who worked hard all their life have just lost the lot. It's really going to affect the town. It's a black day here," he said.
Kyabram local Lynne, 50, opened up an account two weeks ago with about $8000 for a holiday.
"I'm devastated, but I got off lightly," said Lynne, who asked that her surname not be used.
"One retired lady lost the lot - $400,000. Now it has probably just gone, disappeared like that," she said.
She said Banksia was an institution that locals had trusted.
The pastor of Kyabram Baptist Church, Robert Arnold, said it was likely the church would lose money.
He said there had been no warning signs that the firm was in trouble.
"Our banking goes through them," Mr Arnold, 70, said.

"It has come as a shock. I would have thought it would have been pretty well managed."
Victorian Farmers Federation vice president Peter Tuohey said farmers had been hit by the collapse.
“Farmers are just trying to recoup after going through a lot of pretty tough years," he told 3AW today.
"A few farmers that have got a few savings and put away carefully in a local investment company  - it’s going to hurt them pretty dearly so (it will) really set the whole area back."
Victorian Shadow Minister for Finance Robin Scott said the collapse was a terrible blow for families, particularly in regional Victoria.

“The Opposition fears that the collapse will have a negative impact on local economic activity and employment,” he said.

“The Victorian Government needs to step in and assist those communities most impacted by the collapse."
Shadow Treasurer Joe Hockey said the Federal Opposition was "desperately trying to find out much more on how Banksia was structured".

"I think it's important to recognise that if an institution is not supervised by APRA, if it's not an authorised deposit-taking institution then there is a certain amount of risk," he told 3AW.

"When someone advertises themselves as a non-bank lender or as a non-bank financial institution then the money is at risk."
Banksia, which was founded in Kyabram, offered investment products including fixed-term, superannuation and pensioner deeming accounts and mortgage schemes.
Banksia has a network of 14 branches across Victoria, NSW and SA with headquarters in Melbourne.
Its other Victorian branches are in Echuca, Ballarat, Bendigo, Geelong, Shepparton, Tatura and Warrnambool.
Campaspe Shire chief exeuctive officer Keith Baillie said there were a lot of nervous people in northern Victoria after the shock announcement.
"News of the challenges being faced by Banksia Securities has resulted in many Shire of Campaspe residents, along with thousands of Victorians, facing an anxious wait as receivers are appointed and future plans are determined," Mr Baillie told The Weekly Times.
"Our concern is the impact on not only the investors but the staff employed at the Kyabram and Echuca offices, with Kyabram supporting Banksia's administration office.
"The impact will be felt across our urban and rural communities and we now await details as the receivers work through the required processes and to what assistance may be available."
McGrathNicol receiver Tony McGrath said it was too early to know what caused the collapse.
He said an urgent review of Banksia's financial position, loan book and properties was under way.
"Our primary concern is to ensure the interests of debenture holders are being protected," Mr McGrath said.
Staff will work on during the review.
The group, which bills itself as a "non-bank alternative", was founded as Kyabram Housing Investments by Patrick Godfrey in 1968. In 1999, it merged with other small investment companies to form The Banksia Financial Group.
Mr Godfrey stepped down as chief executive in August and was replaced by Warren Shaw, a former National Australia Bank general manager in charge of overseeing its retail branches.
Mr Godfrey continues to serve as a board member.

heraldsun.com.au 26 Oct 2012

Another corporate fraud where the masses suffer financial losses, under the ever so watchful government institution, ASIC.

Australia, truly the lucky country (Disclaimer: If you are a part of the fraudulent corporate elite).

Now it's time to sit back and watch the courtroom frace.

Donut King dethroned

In the world of the ‘untouchable’ corporate elite, many a dodgy deal is struck, from tax evasion, registration of companies in tax ‘havens’, to money laundering and going out of business to wipe out debts, only to resurface under new company names.

These tax havens are set up by the corporate elite, which are out of reach for the general masses, and if monies are invested in those havens, the citizen then is labelled a tax cheat, and deal with appropriately by the law. 

These companies are left alone, only for the masses to balance the tax bill deficit.

In this modern era of the lazy herd populous, junk food giants are literally making a killing, by selling carcinogenic products in the process making high percentage profits in the magnitude of billions annually. (Pictured: 1cent doughnut and 20cent coffee selling for nearly $6)

The junk food industry is based on high profit and quick turnaround of the products. Some example of a extremely high profit items are slurpees (from e.g 7-Eleven), soft drinks (from e.g. Coca Cola), and cinnamon donuts (from eg. Donut King, that cost 1 cent to make, sell for 50 cents or even $1 or more each).

Many people may not be aware that the market is cornered by only a handful of key players. What may seem as an independent brand name or franchise is actually owed or affiliated in murky business connections with a major player.

The global giant junk food manufactured known to most people as Donut King, which has stakes in other brand names such as Wendy’s, BB’s just to name a couple.

Corpau is not in the business of the prophesying of events, but if the information received is anything to go by, Donut King is going (to put it in layman’s terms) down. The so called ‘failure’ of a business, in real terms is quite to the contrary from a business perspective.

Officially there can be blame on the Global Financial Crisis, as a factor, or Carbon Tax or even ‘bad’ management, which is actually good management as the monies earned are not used to pay back the creditors for services or stock given.

It is difficult to imagine in a time where obesity of the masses, lazy approach to lifestyle, uneducated choices with proper eating, contribute to billion dollar profits to the junk food goliaths, a company would be ‘shutting down’.

It is ironic how in this case Donut King is sponsoring Heart Kids, an organisation that helps children born with heart problems, where when eating the product, the lard combined with the deep fried dough will cause heart problems.

Fast mobile internet on way to outer suburbs

MORE mobile phone users can expect faster download speeds in the next 10 months.

Two of Australia's biggest telcos are introducing or expanding their 4G networks, which will deliver the fastest download speeds on the market and about five times quicker than what is available.
Telstra is expanding its existing 4G network, available in a 5km radius out of the CBD.
It plans to cover up to a 20km radius by mid-2013, including Werribee, but it is not known which suburbs will be upgraded first.
Optus announced on Monday that 4G would be available in Melbourne from September 15.
The third major telco, Vodaphone/3, won't roll out its 4G coverage until 2013 and that will be in "selected areas".
The upgrade to 4G means quicker access to web sites, videos and social media on mobile phones and tablets.
But it would not be better than land-based fibre networks, as proposed under the National Broadband Network.
Telstra executive director of Networks and Access Technologies Mike Wright told Leader the demand for 4G was growing.
"Nine out of 10 new smart phones will be 4G capable, so it is the right time to start expanding the footprint," he said.
Smart phones with 4G revert back to the 3G network when 4G is not available.
Mr Wright said the other benefits include High Definition voice capabilities, which block out background noise during phone calls.
Telstra will announce over the next 12 months which new 4G smart phones it will offer, on top of the four already available.
It's not known if the iPhone 5 will be among them.
The 4G network is cheaper for telcos to operate, because it is a more efficient way of using the radio spectrum. Mr Wright said this would bring down costs for consumers.
"It is a great position to be in with 500,000 people already on 4G and 1.8 million people in the next 18 months," Mr Wright said.

whereilive.com.au 5 Sep 2012

john writes:
Posted on 6 Sep 12 at 08:32am
 
i wouldnt call 20km from the cbd as outer suburbs when melbourne now extends well beyond 40km. just goes to show how small thinking we can sometimes be. this service should already have been available to the above mentioned areas. snails pace service as usual.

Optus failing to deliver internet service

Australia’s second largest telecommunications company, owned by overseas Singapore Telecommunications, that also supplies services to MVNO (Mobile Virtual Network Operators), like Virgin Mobile,  Boost or Woolworths/Safeway just to name a few, is failing to provide an internet service to its users.

Telecoms companies have been able to get away for many years with loose definitions of what an internet connection speed is deemed as acceptable, with the help of the governing bodies.

The telcos are also responsible for providing false information to users, when there are known faults within their networks. There is also no urgency or policy for authorities to clean up this fraudulent behaviour by the telcos.

Many of the older generation of Information Technology professionals would be too familiar with the tern Viatel, and its speed.  Viatel  has a speed of 1200/75 (bits per second) or  150/9.3 bytes per second (download/upload).

Once line quality and technology started to improve, the masses were treated to 2400 baud (bps) modems, and 9600 baud fax/modems, I.T professionals would have sighed in relief that the old Viatel day were over, or were they?

Come the year 2012 and Australian telcos are not only slow to implement new technology, but also disregard the need of their customers.

Wireless Internet or Mobile Broadband is on the increase with Australian consumers, and telcos are deliberately slow to upgrade facilities (to maximise profits) providing substandard or in breach of service providing, internet speeds.

Hardware manufacturers are pushing their new (speedy) products to telcos, with no real advantage to the end user.

Wired Broadband can come in many flavours in the forms for ADSL, ADSL2+ or Cable with the expected speeds of 8Mbps, 24Mbps or 100Mbps respectively.

When it comes to wireless devices such as phones, tethered smartphones, or dedicated wireless (wifi) routers, even though the technology protocols are precisely defined, as in wired, performance of the devices is a bit murky.
 
The general populous are misled that the purchase of the lasted and greatest pocket wifi device ( for example ) currently from Vodafone the Pocket Wifi Pro, which may be capable of a theoretical maximum of 21Mps (analogous to ADSL2+ speeds) is only capable of delivering 0.512-3.5Mbps, because of the limitations of the telcos towers. An older generation pocket wifi device would still be sufficient enough, but this does not turn the ‘economy’.

Many telcos state that with their Mobile Broadband or Wireless Internet, although speeds may vary according to conditions, the typical speeds a user can expect are that of 512-2400kbs.

Not so with Optus.

Surveys have been taken across various east coast cities of Australia, and some ‘typical’ results are shown via the pictured illustrations, using a performance monitoring tool.

Speed tests for the following server sites are:
Adelaide – Ping: 1539ms, D’load: 2kbps,
Melbourne – Ping: 123ms, D’load 109kbps, U’load: 228kbps
Sydney – Ping: 403ms, D’load: 47kbps, U’load 35kbps

In real terms the latency ping figures of 403 and 1539 milliseconds are too high to have real usage of the internet connection.

In this example, Melbourne’s figure may be good for weather synchronisation, or information from a text version of a news portal may be downloadable.

There are many factors to consider when taking into account wireless connection of devices to towers, amongst others, signal strength, distance and allocated tower bandwidth.

What the general populous may not be aware is the fact that Optus have oversold their network, also limiting the speeds to MVNO’s and powering down towers at night to save on operating costs.

There should be a national inquiry to the substandard operation of one of the most important communications medium in a first world country like Australia.

Since many millions of dollars annually are extruded from the pockets of the masses, and it’s a service that the masses are being effected by, no inquiry will ever take place against the telco industry.

Telstra Yellow Pages advertising fraud


Many a telco have been caught out in (deliberately) misleading the general public, with fraudulent claims of services offered, claims of ‘free internet’ and many other examples.

Australia’s government consumer watchdog, the ACCC works to the benefit of government institutions, together with the corporate goliaths, and is regarded by many as ‘spineless’ and in need of a total overhaul. The TIO (Telecommunications Industry Ombudsman) is another institution that lacks integrity.

The so called judgements against any telco for breach of laws, is nothing more than a slap on the wrists, if found guilty of misleading the consumers, with profits already banked from the fraudulent transactions. The institution is also deliberately slow for major cases.

Telstra has embarked on a nationwide fraudulent campaign with regards to obtaining customers for their Yellow Pages services.

Telstra provides a service for internet presence that claims to have an affiliation in partnership with Google, which is false.

Customers are led to believe that once they contract the services to Telstra, their business will be a the top of Google’s search indexing, because of Telstra’s alleged affiliation with Google.

Terms like SEO (Search Engine Optimisation) technologies are used to baffle the prospective client in signing away $750 per month contract which is not worth the paper it is signed on.

Once again the ‘authorities’ are slow to act on Australia’s telecoms monopoly.

Any customer that has been misled with this false advertising, has the right to seek legal advice with the possibility of a class action law suit.

Thursday, October 25, 2012

'Bribery on global scale'

THE global bribery campaign of a Reserve Bank company engulfed more than a dozen countries, according to explosive police evidence aired in court.

"I haven't seen a country which involves an agent where they [Securency] did not commit bribery," said Federal Agent Rohan Pike, testifying yesterday in the committal of eight former executives from Securency and its sister company Note Printing Australia. He also told the court he believed criminal activity continued "under the watch" of former Reserve Bank assistant governor and company chairman Bob Rankin as late as May 2009, when allegations were revealed by The Age.

Senior executives have been charged over dealings in three countries - Malaysia, Vietnam and Indonesia - between 1999 and 2006.

But Mr Pike, who led the federal police investigation, yesterday suggested the extent of the scandal was far greater. The court has previously been shown a 2007 Securency document outlining 17 countries with agents: Bangladesh, India, Angola, Botswana, Dubai, Madagascar, Mauritius, Mozambique, Namibia, South Africa, Swaziland, Uganda, China, Argentina, Uruguay, Chile and Nigeria.

Barrister Mandy Fox, representing former Securency managing director Myles Curtis, said Mr Pike should not make allegations about other countries when there was no evidence before the court and she was unable to ask further questions about it.

Mr Pike also revealed that a 10th banknote executive would be dragged into the affair, saying former Securency marketing director Joe Mamo would be charged over conspiring to pay for the son of the governor at the State Bank of Vietnam to attend Britain's Durham University.

The court heard Mr Mamo had been named as a co-conspirator in charges against others. Mr Pike said police had not yet provided the evidence brief to prosecutors, but had written to Mr Mamo's lawyers in late July or early August this year, outlining the expected charges.

Mr Pike denied Ms Fox's suggestion that police were "holding off charging him for as long as possible in the hope he will co-operate".

He agreed later when Ms Fox asked: "So you believed the criminal activity was going on in May 2009 under Dr Rankin's watch?"

In response to questions about why no statement had been taken from former Reserve Bank deputy governor Graeme Thompson, who was chairman of both company boards during the period of the charges, Mr Pike said police had met Mr Thompson but did not take a statement because "we had ample evidence of the board activities during his tenure and he couldn't add to it".

Curtis had been asked about what had been discussed with Mr Thompson "many times", Mr Pike said. "If he wants to tell us about his interactions with Mr Thompson we are all ears."

He said there was "nowhere near" enough evidence to charge Mr Thompson.

"There is evidence that Mr Thompson was involved in authorising payments and authorising illegitimate payments. But there was no evidence he knew that money was going to influence foreign officials."

Police referred the matter to ASIC for investigation of corporate malfeasance but the corporate regulator never investigated.

theage.com.au

Now the courtroom (?) farce will start, and the 'untouchables' will remain so.

Blame game begins amid fuel price rise

PETROL prices may reach $1.64 in Melbourne as motorists brace for their second price increase in little more than a week. 

CommSec economist Savanth Sebastian said bowser pain might peak in the days ahead after retailers began lifting prices to $1.60 today.

It comes a week after Melbourne motorists were hit by pump prices of $1.60 a litre.

Mr Sebastian said the surge was due to a combination of tension over the threat of the supply in the Middle East and a weak Australian dollar.

"We've seen the wholesale price jump two cents in the last week, so that will filter through," he said.
He forecast the average petrol price would leap from $1.42 a litre to about $1.50 overnight, but added the jump wasn't unusual.

"That's what you tend to see over that weekly cycle," Mr Sebastian said.

He said the average price of petrol was climbing to a five-month high.

RACV chief engineer Michael Case said it had been at least two years since petrol was $1.64.

"Our advice to motorists would be to get in quickly while the current cheaper prices remain, or ... wait as long as possible after the new peak hits because, like all previous cycles, the price will go down," Mr Case said.

FUELtrac general manager Geoff Trotter said the rise was due to service stations inflating base prices due to supermarket fuel discount dockets.

"It has got nothing to do with the rise in wholesale price; as far as I'm concerned, it has got everything to do with shopper dockets they (Coles and Woolworths) have advertised," Mr Trotter said.

 news.com.au 17 Oct 2012

More false information perpetuated by the petrol duopoly of Australia.

LPG currently in Melbourne hovers at 69.9 cents per litre.

There is no reason for LPG to be that high, as it is a byproduct from the petroleum industry.

The spineless ACCC works in collusion with the supermarket chains.

Wednesday, October 24, 2012

Australian lawyer Sarah Armstrong prevented from leaving Mongolia

AN Australian lawyer has been prevented from leaving Mongolia as she is embroiled in a murky legal case. 

Sarah Armstrong, 32, a mining lawyer for Rio Tinto subsidiary South Gobi Resources, was stopped at Ulaanbaatar's airport on Friday because police wanted to quiz her about allegations of money laundering and corruption.

Mongolian authorities are expected to interview her again on Wednesday or Thursday.

Foreign Minister Bob Carr said the Australian Consul-General to Mongolia, David Lawson, would accompany Ms Armstrong to the second round of questioning.

"She hasn't been detained, she hasn't been arrested, her passport hasn't been taken from her," Senator Carr told ABC Radio.

He said he had not been advised about any allegations against Ms Armstrong, but it was a complex matter between the company she works for, the resources authority of Mongolia and its anti-corruption authority.
Senator Carr was in Mongolia a month ago to open the new Australian consulate, and said there were no indications of trouble brewing while he was there.

"Australia's got big investments there, we're the biggest investor in mining," he said.

"Our relationship with Mongolia is very good."

Senator Carr said he expected the issue to be resolved quickly.

He would not comment on speculation Ms Armstrong had been targeted as a payback for making allegations of corruption three months ago.

news.com.au 24 Oct 2012

The government is coming to the 'rescue' of Sarah Armstrong, in the interest of the multi billion dollar company Rio Tinto.



It is all about the money and the corruption it buys.

 When Julian Assange exposed government fraud, corruption and murder, there was no sending out of the Consul-General, David Lawson, but rather total detachment by all Australian politicians.

Obviously they have something to gain from Assange's incarceration, the leaking of documents pointing to their fraudulent operations no doubt.

The Australian Prime Minister, then went on to say publicly the Assange committed illegal acts, what ones were they again, Ms. Gillard?

Overland under fire over police payout

FORMER police chief Simon Overland provided an unnecessary termination payout to a senior executive, reappointed another senior executive without an open process and inappropriately accepted gifts.



But in a report tabled last night in State Parliament, acting Ombudsman John Taylor has stopped short of finding Mr Overland and other Victoria Police acted corruptly, saying he had not concluded ‘‘Mr Overland or other Victoria Police employees engaged in ‘improper conduct’ as defined by the [Whistleblower Protection Act]. Despite this, his actions may have provided grounds for dismissal.



‘‘I considered that the conduct of Mr Overland, if proven, would have been reasonable grounds for the termination of his appointment as Chief Commissioner when he occupied this position,’’ the report said.

More than a year after Mr Overland resigned from Victoria Police in a blaze of controversy, the Ombudsman concluded the former police chief terminated the contract of former director of media and corporate communications Nicole McKechnie, despite finding she would have resigned.


The termination of the contract, less than three weeks before it was due to expire, meant Ms McKechnie received a payment totalling $72,449, plus an agreement to pay for the remainder of her master’s degree.

‘‘If Ms McKechnie’s intention was to resign or to serve out the remaining terms of her contract and then leave, the question arises as to why Mr Overland chose to terminate her employment, particularly so late in the contract period,’’ the report said.

A whistleblower went further to suggest the payments had been made to discourage her from speaking with others about any matter involving Victoria Police, but Mr Overland and Ms McKechnie denied this.

The Ombudsman also found there was no evidence — other than the timing and circumstances — to suggest this was the case.

Mr Overland, who holds a senior position in Tasmania, resigned in June last year after intense pressure relating to his performance and a bitter dispute involving his deputy, Sir Ken Jones.

The report also included claims that a retired police officer was reappointed as a superintendent without an open and competitive recruitment process. The report said the officer, who had worked for 38 years before retiring at the rank of superintendent in October 2007, was rehired as a consultant and than asked by Mr Overland to accept a permanent position.

It said Victoria Police had failed to comply with requirements to advertise the position and conduct various tests.

‘‘I would be concerned if Victoria Police had appointed other members to the force but failed to do so in accordance with the regulations,’’ the report said.

It also found Mr Overland had inappropriately accepted corporate largesse, including a Melbourne Cricket Club membership and ‘‘law firm hospitality’’. During the investigation it emerged that Chief Commissioner Ken Lay had also accepted a temporary membership offered by the MCC.

Mr Lay said he accepted the report’s recommendations.

theage.com.au 24 Oct 2012

This is a classic example of how the corrupt legal system deals with corrupt police.

As can be seen, the police are above any legal sentencing, as they are part of the 'untouchables'.

The police are subservient to the government and therefore have backing from the 'Anglo-masonic' brotherhood, together with support from politicians and the corrupt judges that preside over matters.

The masses are mistaken that the police are there to serve them.