A Betrayal of Trust: Corporate Risk Appetite & Disclosure

Preparing for retirement is an absolute minefield and Australia's financial regulations are of only limited use in protecting investors. When it comes to running investment schemes, it's almost a case of anything goes, so long as you disclose, writes Stephen Long. Want to structure your financial affairs so that liquidators and receivers have no hope of getting back tens of millions of dollars paid in fees to entities you controlled before the scheme collapsed?
It's possible. Ask Bill Lewski. He knows how.
The saga of how he managed it - by apparently legal means - is a story that speaks volumes about the law, about regulation, and about the minefield facing Australians as they try to responsibly invest for their retirement Betrayal of Trust; Bill Lewski was the founder of the Prime Retirement and Aged Care Property Trust. It specialised in retirement villages; with the population ageing, many thought it was a good investment Bill Lewski

Victims of Financial Fraud (VOFF) spokesperson, John Telford, is accusing ASIC of having acted too slowly back in October 2009 in freezing a Trio-related bank account that contained investors’ funds. Trio

Despite the fact that his work is only part-time, his pay check from 9to5Mac is not. Weintraub [his boss] tells us, “I have an unorthodox model where I give my writers ad space on their posts and on the homepage. For Mark in particular, it has been very successful because his exclusives get a lot of attention.”
How successful? Weintraub says he “makes enough money to buy a Tesla every year (he hasn’t…yet) with change left over.” Teslas generally sell for ~$100,000 a pop Digital Dragons