Warren Anderson in Firepower-linked breach

A private company owned by Perth property tycoon Warren Anderson has been been found to have breached the Corporations Act in its offering of shares in discredited fuel pill company Firepower, the Federal Court has found.

Meanwhile Tim Johnston will have to wait until a later date to find out whether he will be banned from ever managing an Australian company.

Can anyone believe how long this fall out from the Firepower fiasco is taking? And, remember, there are no criminal charges against Johnston despite the tens of millions of dollars that has gone missing.

Oh, by the way, I have a new job. More on that when I update this site.

One Response to “Warren Anderson in Firepower-linked breach”

  1. Colin Jacobs says:

    Fascinating. After following the Firepower mess, and other scandals such as those detailed in Adam Schwab’s book “Pigs at the Trough”, I’m pretty convinced that under the current system the way to get away with theft or fraud is simply to make it large enough. Stealing a car means big trouble, but add a few orders of magnitude to the larceny and you can be sure to ride out the storm at your holiday home in Tuscany.

    I guess I should be too hard on these hardworking executives. After all, isn’t forcing them to put the Swan River mansion into their wives’ names really punishment enough?

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