- evilbastard
- Mar 6, 2003
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Hair Elf
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Go on, you all knew it was going to happen. There is no suggestion he had acted improperly.
quote:
Prime Minister Malcolm Turnbull is named in the Panama Papers as a former director of a British Virgin Islands company set up and administered by law firm Mossack Fonseca to exploit a Siberian gold prospect.
Mr Turnbull and former NSW Premier Neville Wran on October 29 1993 joined the board of Star Mining NL, the Australian listed company which hoped to develop a $20 billion Siberian gold mine called Sukhoi Log.
Five weeks later, on December 3 1993, Turnbull and Wran were appointed directors of Star Mining's subsidiary in the British Virgin Islands, Star Technology Services Limited, that held the group's stake in the Sukhoi Log prospect, a joint venture called LenaGold.
A spokesman for Mr Turnbull said last night that the Prime Minister was not aware the company had been administered by Mossack Fonseca. There is no suggestion he had acted improperly.
The details are included in documents obtained by the International Consortium of Investigative Journalists known as the Panama Paper but are not part of the publicly searchable database.
Mossack Fonseca incorporated the British Virgin Islands company in November 1991, under the name Green Applied Systems, for mining entrepreneur Ian MacNee.
The name was changed to Star Technology Services in 1992, after Mr MacNee together with a Russian-Australian, Ludmilla Melnikoff, negotiated with Russian politicians for a 34.88 per cent share in LenaGold.
Mr MacNee sold Star Technology to Star Mining in late 1993 in return for cash and shares. As Star Technology now held the Australian listed company's major asset it was not unusual for Mr Wran and Mr Tunrbull to be appointed to the board.
Mr Turnbull's spokesman said Mr Turnbull was not aware that the company had been administered by Mossack Fonseca. Responding to allegation that Star Technologies had made donations to Russian politicians the spokesman said Mr Turnbull was not aware of any such donations either before or after he was a director.
The use of the British Virgin Islands company provided limited visibility for Australian shareholders of the investment in Siberia: Star Technology was listed as a subsidiary in Star Mining's 1994 annual report with the note that it was a "controlled entity not required to be audited under British Virgin Islands requirements".
The Panama Papers—files originally obtained by German newspaper Süddeutsche Zeitung and accessed in a collaboration with the International Consortium of Investigative Journalists—show that Mossack Fonseca principal Raymon Fonseca had taken an interest in the company.
A fax sent by Mossack Fonseca Panama to its BVI office on November 5 1993 noted, in reference to a "Stamped License Fee Receipt" linked to Star Technology : "I refer to your fax 9425 of 2nd November 1993 in reply to Mr Fonseca, regarding John Wong's worries about the advice of payment received by him for [Star Technology]. Mr Fonseca asked me to express to you his thanks for the very through fax you sent."
In a second note in mid-1995, a Mossack Fonseca employee stated that half of Star Technology's shares were bearer shares, which were to be converted to registered shares.
While bearer shares are unusual for a wholly owned subsidiary, it's not suggested there was anything improper in Mr Turnbull's role.
He and Mr Wran resigned from Star Mining on September 1 1993 citing work commitments in Australia. They stepped down from Star Technology on September 25.
Turnbull & Partners and broker County NatWest raised $72 million for Star Mining in share placements October 1993.
Court decisions in Russia ultimately stripped Star Min ing of its LeanGold stake. The company wrote off $127 million on the failed venture in 1998.
There is no suggestion he had acted improperly.
It looks like one of the people involved, Ludmilla Melnikoff, was shopping her story around last year, but since her youtube video only has 222 there must not have been any bites.
There is no suggestion he had acted improperly.
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May 11, 2016 16:19
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ADBOT LOVES YOU
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May 17, 2024 00:24
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- evilbastard
- Mar 6, 2003
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Hair Elf
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Geelong mosque burnt down.
e: No link because no real details yet, just 'it's burnt down' and 'it's suspicious'.
On the bright side, it probably wasn't an anti-muslim hate group. Geelong has a serial arsonist targeting religious buildings.
Geelong church fires
May 18, 2016 Geelong Mosque, Manifold Heights
April 15, 2016 Geelong West Presbyterian Church
December 6, 2015 Norlane Baptist Church, Sparks Rd, Norlane
December 6, 2015 Norlane Baptist Church, Spruhan Ave, Norland
October 14, 2015 St John the Evangelist Catholic Church
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May 17, 2016 23:19
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- evilbastard
- Mar 6, 2003
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Hair Elf
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So tomorrow's papers will have Dodgy Labor, Dodgy Greens and Labor is breaking the law so the Feds were called in.
I'm guessing the Pre-election Economic and Fiscal Outlook report due tomorrow is really, really bad and they are trying to bury it .
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May 19, 2016 13:04
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- evilbastard
- Mar 6, 2003
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Hair Elf
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Isn't central Australia supposed to be one of the most tectonically inactive areas on the planet?
Central Australia is actually the most earthquake prone part of Australia, with a 6.6 on 22 January 1988. There was also a 5.8 at Marryat Creek a few years earlier. (Newcastle was a 5.6). I bet right now there's a bunch of helicopter charters being made for geologists to go out trying to see if they get more huge cracks appearing from this one.
There is lots of talk about the ground cracks and deformities that appear after these types of earthquakes, and investigations into rock structures that show a long history of this occuring, There doesn't seem to be any explanation as to why Central Australia keeps getting these, though.
Map of Earthquake Hazards in Australia
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May 21, 2016 00:11
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- evilbastard
- Mar 6, 2003
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Hair Elf
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St Ignatius' College and the University of New England are both going to be a little ashamed as being the places that taught Barnaby Joyce logic.
quote:
Barnaby Joyce isn't backing away from controversial comments linking Labor's live export ban to a surge in asylum seeker boats.
The deputy prime minister believes his comments were grounded by fact, pointing to threats by a senior Indonesian minister last year to release a "human tsunami" of asylum seekers in response to pressure from Canberra over the Bali nine executions.
"People can argue with me all they want but it's going to be really hard to argue with a senior Indonesian minister," Mr Joyce told AAP on Tuesday.
The Nationals leader said he never intended - and didn't create - a diplomatic incident with Jakarta.
But he believes there's been an overreaction to the comments.
"You can argue about the causation issue, but you can't argue about the correlation."
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May 31, 2016 07:53
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May 11, 2016 16:19
