The suit alleges that the firms misled the state into funneling retirees’ money into investments that were “secretive, opaque, illiquid, impossible to properly monitor or accurately value, high-fee, high-risk gambles with no historical record of performance.” The suit asserts that these were “absolutely unsuitable investments for a pension fund in the particular situation [Kentucky] was in, and violated the applicable laws, codes and standards.”
In 2018, 50 major U.S. corporations paid their top execs over 1,000 times what they paid their most typical workers.
We could do bolder still. We could deny government contracts and subsidies to corporations with wide gaps between executive and worker pay. Our tax dollars should not subsidize — in any way — the exploitation of working people.
Or as an excellent New York Times analysis has just put it: “For the voices of workers to be heard, the influence of the wealthy must be curbed.”
Lendlease walked away from its contract to rebuild the Sydney Football Stadium in July, leaving a giant hole in the ground and a state government scrambling to fill the construction void. The contract was worth $729 million but, in a retirement villages tax rort, the company has claimed far more than $729 million. Michael West reports on how Lendlease plays fast and loose with taxpayers.
Paladin corruption allegations;
Royal Commission findings on banks;
no charges laid over questionable tip-offs on AFP’s union raid from Michaelia Cash’s office; and
Northern Territory’s public service corruption charges.
The man running the banking royal commission, Kenneth Hayne, certainly comprehended what was going on when he questioned the head of the trustee responsible for NAB’s superannuation funds.
“Did you think yourself that taking money to which there was no entitlement raised a question of the criminal law?’ he asked.
“I didn’t,” responded Nicole Smith.
Ms Smith’s answer says a lot about the culture of Australian banking, where it seems that profit at any cost is king.
A man who was raped and beaten by priests and brothers as a 12-year-old says he felt like a beggar when he asked the Catholic Church for money to pay for medical bills for treatment of the mental and physical illness he suffered as a result of his abuse.Russell Clark is just one of many survivors of abuse who signed deeds of release, which prevent them from taking further legal action or requesting more compensation.
In the 2014-15 year there was a huge $3 billion variance between tax bills initially issued by the ATO to 81 large companies, and the money the agency ended up pocketing after it cut deals with these companies.
This is not an administration, it is a rogues gallery of environmental criminals.Want to know why we’re having a once in a 500 years storm and flood in Texas?Because of Trump and his buddies on the cabinet. They are creating a situation where Hurricane Harvey becomes the new normal.They should resign.
Mr Murphy said the sackings are the result of the failed, sham pyramid contracting scheme employed by Telstra and their contracting partners.“The Federal Government and NBN Co are turning a blind eye to these dodgy employment set-ups. This company has been the subject of a number of worker complaints including the failure to provide adequate training, unlawful withholding of overtime payments and unfair dismissals. NBN Co and the Federal Government know the way their contractors are operating, but they don’t seem to care. They’ve got a lot to answer for.
Tabcorp was fined $45 million in March for breaching money laundering laws 108 times over five years. AUSTRAC boasted at the time that the ruling was the largest civil penalty in Australian corporate history. Applying the same standard to the 53,760 breaches Commonwealth Bank is accused of would see it staring down the barrel of a $22 billion penalty.
Dumped water containing over eight times the permitted amount of sediment was released by family-linked company during Cyclone Debbie in March
The Commonwealth Bank is locked in the early stages of damage control as it confronts allegations it allegedly breached anti-money laundering rules.
A little back story may be appropriate. In February 2015 I looked at Medicare. It was noticeable that pathology services constituted a large percentage of the total services. I doubt the proportion has dropped since. I contribute to that proportion: I have auto-immune conditions. I spend considerable time and money ensuring they are kept under control.…
The wife of a suspected Chinese-Australian money launderer who allegedly turned over more than $850 million at Crown Casino has failed in her bid to access a Californian luxury home held under proceeds of crime laws.
Wells Fargo, one of the world’s biggest banks, just got caught in an elaborate scheme charging customers for bank accounts they never signed up for.
Australia’s third largest employer, supermarket giant Coles, knew that more than half its workers were paid below legal minimum wages
Dr Evan Jones discusses the latest in a series of parliamentary inquiries into systemic bank corruption as the victims of fraudulent foreclosures continue to wait for justice.
When is enough, enough? In the past few years Commonwealth Bank has been engulfed in scandal after scandal yet nobody seems to have been made accountable.
Now House GOP want reform bill to go softer on white collar crime