Category: Corporate Crime

Fake honey found in Australian-sourced brand Capilano and more

One in five samples of local honey sourced along the eastern seaboard of Australia, including boutique brands, has been found to be fake, deepening the global scandal over the impurity of honey.

The study, which tested five raw samples of honey and 95 local and global-branded honey, found 27 per cent were adulterated. But the big shock was Australian honey. Of the 38 honey samples sourced from supermarkets and markets, 18 per cent, or almost one in five, detected adulteration. The states implicated in the scandal include Victoria, Queensland, NSW and Tasmania.

via Fake honey found in Australian-sourced brand Capilano and more

Australia’s largest consumer credit reporting agency, Equifax, has joined the finance sector’s disgrace list

Australia’s largest consumer credit reporting agency, Equifax, has joined the finance sector’s disgrace list after being hit with a $3.5 million fine for misleading, deceptive and unconscionable conduct following legal action by the Australian Competition and Consumer Commission (ACCC).

This includes asking consumers to pay for their own credit histories, which they have the legal right to obtain for free.

Equifax admitted to breaching Australian Consumer Law when its representatives made false or misleading representations to consumers during phone calls.

via Australia’s largest consumer credit reporting agency, Equifax, has joined the finance sector’s disgrace list

‘Scared and furious’: Woman shocked to discover she has $36,000 education debt

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When Pay for No Service occurs when government outsources companies and pays them for not educating not findinf employment just simply signing people up. Collecting signitures for payment doing nothing has been common practice that has remained hidden for years but known by the participants involved except those that they were meant to benefit,why? It wasn’t in anyones interest to get busted.(ODT)

The 58-year-old Wodonga woman had just discovered she owed the federal government $36,000 for a tertiary qualification she’d never received. She was also told she had to immediately repay $2000.

This created a perverse incentive for some colleges to enrol as many people as they could, sometimes luring them with laptops and other incentives to sign up to often substandard online courses.

via ‘Scared and furious’: Woman shocked to discover she has $36,000 education debt

Rebel, Supercheap Auto owner says it underpaid workers by $8m

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Corporate Fraud and Tax Cuts money for nothing and no ICAC support from the LNP (ODT)

The retail group that owns Rebel Sports, Supercheap Auto and Macpac has admitted to underpaying workers by almost $8 million after incorrectly calculating overtime pay and allowances.

via Rebel, Supercheap Auto owner says it underpaid workers by $8m

Cybercrime a $2 trillion threat for business

If only concern was given to threats faced by the Individual citizen from both business and the business of cyber crime.We speak of  market “freedoms” with little emphasis of “safety” other than “Buyer Beware” were not about to “teach” you the traps witch are increasing daily with data farming. Crime, Punishment are after all a class apart. (ODT)

Unfortunately, with around 3.5 billion internet users globally and well over 10 billion devices in use, cyber security will remain a major headache confronting business and government globally for years to come. For example, over the past year, the size of the global cybercrime economy has grown to more than $2 trillion annually, making it the world’s 13th largest economy by revenue, according to the Into the Web of Profit (Understanding the Growth of the Cybercrime Economy) study recently released by the University of Surrey in the United Kingdom.
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via Cybercrime a $2 trillion threat for business

The Linc stink: Queensland’s biggest environmental disaster

Why wasn’t this News Corp headline news(ODT)

In April, following a 10-week trial, Linc Energy Limited was found guilty by a jury of five counts of wilfully and unlawfully causing serious environmental harm at its underground coal gasification plant at Chinchilla in the western Darling Downs.

Linc’s mine at Hopeland was described by Environment Minister Stephen Miles as potentially the biggest environmental disaster in Queensland history. Appropriately, Judge Michael Shanahan handed down a $4.5 million fine — the largest environmental penalty in Qld history, but still well short of the enormous clean-up costs needed.

The mining technique, which Linc practiced at Hopeland, was an extreme form of fracking known as underground coal gasification.

via The Linc stink: Queensland’s biggest environmental disaster

The hard-nosed investors behind the Rockpool empire

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When is Corporate theft deemed a crime. Steal off a Corporation it’s a jailable offense? A Corporation steals off it’s enmployees it’s “hard nosed business” someting is seriously wrong and its systemic because our system allows it to happen. (ODT)

It is what Quadrant is doing with Rockpool Dining Group, which is expanding rapidly, has become heavily indebted and according to former senior management has a ruthless focus on costs and wages.

The downside is the mountains of evidence of systemic issues at Rockpool Dining Group around the underpayment of workers through the heavy use of unpaid overtime.

via The hard-nosed investors behind the Rockpool empire

Super funds treat customers with contempt? That’s putting it lightly | Greg Jericho | Business | The Guardian

Fingers crossed

Over a decade my CBA Super Fund has yeild a total of 25%. There is absolutely nothing about a fund thats annual average has been a loss. The self managed portion of my fund has had a yeild of well over 100% and I’m certainly not a professional. Dear Agony Aunt have I been “ripped off”?  (ODT)

Of the 74 funds with MySuper products, the commission found that 20 were underperforming – worth about 4.6m member accounts. Of those 20, nine were retail funds, six industry, three corporate (ie funds set up to cover employees of a company) and two public sector funds.

But that breakdown wrongly suggests the retail and industry sectors are almost equally as bad.

What those numbers hide is that the nine retail funds are among the biggest of their kind and the six poor-performing industry funds are among the smallest.

In reality, most people in dud MySuper funds are in retail funds, and most of the people in retail MySuper funds are in dud funds.
The biggest losers: Productivity Commission finds super funds wanting

via Super funds treat customers with contempt? That’s putting it lightly | Greg Jericho | Business | The Guardian

When CEO’s Earn 5,000 Times as Much as a Company’s Workers

Mattel is one of the largest toy-making companies on earth. Turns out it’s one of the biggest manufacturers of income inequality, too.

Last year, the Barbie doll manufacturer paid its CEO nearly 5,000 times as much as its median worker.

via When CEO’s Earn 5,000 Times as Much as a Company’s Workers

Push to jail employers for up to 10 years for ‘wage theft’

Unions will campaign ahead of this year’s state election for the Andrews government to make ‘wage theft’ a crime and punishable by up to 10 years in jail.

The move by the Victorian Trades Hall Council and its Young Workers Centre is part of a growing legislative push in Australia to try to turn the deliberate underpayment of wages into a criminal offence.

Push to jail employers for up to 10 years for ‘wage theft’

The way banks are organised makes it hard to hold directors and executives criminally responsible

The Financial Services Royal Commission has seen evidence that bank directors and executives deliberately put in place policies to ignore the law.

But research suggests the very organisational structure of banks makes it difficult to hold directors and senior executives criminally responsible for systemic misconduct.

via The way banks are organised makes it hard to hold directors and executives criminally responsible

Banking royal commission hears of cash bribes, conflicts of interest and hidden fees – Analysis & Opinion – ABC News (Australian Broadcasting Corporation)

A graphic shows four men in suits and ties that match the colours of the 'Big Four' banks.

A tailor pushing $122 million in home loans, gym owners assessing peoples’ finances, paper envelopes filled with cash bribes, and a bank chief executive revealing his own customers are getting a raw deal.

via Banking royal commission hears of cash bribes, conflicts of interest and hidden fees – Analysis & Opinion – ABC News (Australian Broadcasting Corporation)

Property sellers pay mortgage brokers, financial planners and accountants for client referrals – Business – ABC News (Australian Broadcasting Corporation)

Apartments recently built and under construction in Sydney

via Property sellers pay mortgage brokers, financial planners and accountants for client referrals – Business – ABC News (Australian Broadcasting Corporation)

No ‘Paradise Lost’ for multinationals’ tax evasions| Self-allocated subsidies| We pay

These trillions are kept out of sight, locked away by the capitalist rulers, and workers are told that cut backs to health care, education and pensions are needed to balance the government budget. The “Paradise Papers” confirm that the capitalist economic system we live under is bankrupt as far as the working class is concerned. It is the workers who create value – surplus value – and the capitalist class skims it off, demonstrating the fact that capitalists are parasites, who are not necessary for human development and production.

No ‘Paradise Lost’ for multinationals’ tax evasions

Government shields directors after taxpayers foot $1.6bn wage dues | When Criminal Employers are called entrepreneurs

Minister for employment Michaelia Cash

The employment department is refusing to reveal the identities of the directors who contributed to a total unpaid wage bill of $1.6bn over 10 years, which was left to taxpayers to pick up.

Government shields directors after taxpayers foot $1.6bn wage dues | Australia news | The Guardian

Company Town: ‘quiet tragedy’ of an Arkansas community vs the Kochs | US news | The Guardian

A new film tells the story of Crossett, Arkansas – a small town dominated by a Koch brothers-owned paper mill, blamed for dumping cancer-causing chemicals

Source: Company Town: ‘quiet tragedy’ of an Arkansas community vs the Kochs | US news | The Guardian

Adani mining giant faces financial fraud claims as it bids for Australian coal loan | World news | The Guardian

Exclusive: Allegations by Indian customs of huge sums being siphoned off to tax havens from projects are contained in legal documents but denied by company

Source: Adani mining giant faces financial fraud claims as it bids for Australian coal loan | World news | The Guardian

School cleaning contracts to be slashed in Victoria after workers routinely exploited – ABC News (Australian Broadcasting Corporation)

Victorian public school cleaning contracts are being slashed in a bid to stop staff being routinely underpaid and exploited by rogue operators.

Source: School cleaning contracts to be slashed in Victoria after workers routinely exploited – ABC News (Australian Broadcasting Corporation)

‘Reasonable grounds’ to suspect Grenfell tower fire was corporate manslaughter – London police — RT UK

Police investigating London’s Grenfell Tower disaster, in which 80 people were killed in rapidly spreading fire, have sent a letter to survivors and families of victims saying there are “reasonable grounds” to suspect it was a case of corporate manslaughter.

Source: ‘Reasonable grounds’ to suspect Grenfell tower fire was corporate manslaughter – London police — RT UK

Aveo: How elderly Australians are being ripped off in retirement villages

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Source: Aveo: How elderly Australians are being ripped off in retirement villages

Source: Aveo: The retirement villages that swallow vulnerable people’s money

Source: Bleed them dry until they die: the Aveo residents who suffer cruelty and neglect

Mining report finds 60,000 abandoned sites, lack of rehabilitation and unreliable data – ABC News (Australian Broadcasting Corporation)

More than 60,000 mines have been abandoned across Australia, according to a report that raises concerns about how land rehabilitation is managed.

Source: Mining report finds 60,000 abandoned sites, lack of rehabilitation and unreliable data – ABC News (Australian Broadcasting Corporation)

7-Eleven: More workers speak out about ‘cash back’ scams – ABC News (Australian Broadcasting Corporation)

More 7-Eleven workers are speaking out about the so-called cash back scam, in which employees are forced to hand back part of their pay to franchisees of the convenience chain.

Source: 7-Eleven: More workers speak out about ‘cash back’ scams – ABC News (Australian Broadcasting Corporation)

Government recovers over $41 million worth of false claims after ‘rorting’ of Job Services Australia scheme – ABC News (Australian Broadcasting Corporation)

An investigation reveals the Government has clawed back more than $41 million in false claims by private employment agencies.

Source: Government recovers over $41 million worth of false claims after ‘rorting’ of Job Services Australia scheme – ABC News (Australian Broadcasting Corporation)

7-Eleven And Their Fire; Malcolm Makes Strange Promise To Enforce Law – » The Australian Independent Media Network

MICHAEL SMITH (7-Eleven Chairman): Well I think you’ve come to the nub of the issue. We were on fire when this happened and we needed to act really quickly. We appointed the panel and we’re very grateful that they came to help us to make that as an issue that we didn’t have to spend…

Source: 7-Eleven And Their Fire; Malcolm Makes Strange Promise To Enforce Law – » The Australian Independent Media Network

Colgate-Palmolive to pay $18m penalty for laundry detergent cartel – Another trusted corporate citizen

Colgate-Palmolive is hit with the equal third biggest penalty for cartel conduct in Australian history for price and supply fixing of laundry detergents.

Source: Colgate-Palmolive to pay $18m penalty for laundry detergent cartel – ABC News (Australian Broadcasting Corporation)

How bribe factory Unaoil tried to stop us telling their secrets

Until the moment that Fairfax Media and The Huffington Post hit the “publish” button at 10pm on Wednesday, AEST, revealing how the oil industry really works, our investigative team was on tenterhooks.

Source: How bribe factory Unaoil tried to stop us telling their secrets

The world thinks Australia should lift its anti-corruption game

Anti-corruption experts in the US and Europe have urged Australia to properly resource and empower its anti-bribery regime as Australia emerges as the “dumping ground” for dirty money from Asia.

Source: The world thinks Australia should lift its anti-corruption game

Unaoil chiefs questioned by police after Fairfax revelations

The headquarters of global oil company Unaoil and the homes of their executives have been raided by police in the wake of revelations in recent days that the Monaco company systematically corrupted the global oil industry.

Source: Unaoil chiefs questioned by police after Fairfax revelations

Clive Palmer refinery: Taxpayers face multi-million-dollar bill to clean up Queensland Nickel site – ABC News (Australian Broadcasting Corporation)

Taxpayers could be forced to stump up tens of millions of dollars to clean up the site of Clive Palmer’s north Queensland refinery.

Source: Clive Palmer refinery: Taxpayers face multi-million-dollar bill to clean up Queensland Nickel site – ABC News (Australian Broadcasting Corporation)

Toxic Levels Of Chemicals Found In European Marine Mammals | IFLScience

It is looking more and more likely that orcas swimming in European waters will soon be a thing of the past. An extensive study investigating four species of whales and dolphins living off the coast of Europe has found that the levels of a harmful chemical, polychlorinated biphenyl, in the marine mammals’ fat are the highest recorded anywhere in the world.

Source: Toxic Levels Of Chemicals Found In European Marine Mammals | IFLScience

VW and Exxon: indicative of a polluted corporate culture that must change | Guardian Sustainable Business | The Guardian

2015’s corporate scandals should serve as a nail in the coffin of old, outdated ways of doing business, says Pavan Sukhdev

Source: VW and Exxon: indicative of a polluted corporate culture that must change | Guardian Sustainable Business | The Guardian

This Movie Tackles “One of the Most Powerful Corporate Institutions on Planet Earth” | Mother Jones

“Concussion” director Peter Landesman on the NFL and its brain trauma denial.

Source: This Movie Tackles “One of the Most Powerful Corporate Institutions on Planet Earth” | Mother Jones