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Sham directors and the Melbourne underworld.

FCRO Subsection: 
Nigel Morris-Cotterill

Read this from the investigative reporting team at the Australian Broadcasting Corporation.

Don't skip. And think while you read (or listen to the podcast if you prefer)

https://www.abc.net.au/radiona...

That is an absolutely horrible story.

It's by no means a new scam but when I've come across it before, the participants have at least known they were involved. Clearly the victims in this report are psychologically damaged. The authorities need to respect that and both fix the mess and help them.

It re-opens serious questions as to the relationship between organised crime and the police in Melbourne which seemed to have been, if not resolved, at least diminished.

And with - to all intents and purposes - only four banks in Australia, how did such a substantial scheme fail to identify patterns and connections that would tend to indicate criminal activity and, therefore, be cause for suspicion?

There isn't really anything more to say. It's a crappy situation all round and the people that are harmed - not only the sham directors but suppliers, etc. to the fraudulent ventures - are the true victims, with that compounded by systems that are one-dimensional in their approach i.e. we have names, we have addresses, we have a routine and we follow it without question.

Clearly, questions have been needed for quite some time.

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