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TOPIC: Jennie Paluka says "report McGarvie to IBAC"

Wayne byer's committee knew 2 years 1 month ago #3863

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Date: Fri, 22 Jan 2016 02:53:08 +0000
From: PY - Submissions <This email address is being protected from spambots. You need JavaScript enabled to view it.>
Subject: RE: TRIM: RBA Payment Card Review: Ravelo's confession about credit card collusion by lawyers for Amex Visa and Mastercard [SEC=UNCLASSIFIED]
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Thank you for your submission.

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Subject: TRIM: RBA Payment Card Review: Ravelo's confession about credit card collusion by lawyers for Amex Visa and Mastercard


Dear Payment Card Surcharging Fees Review


Over recent years, members of our group dealt with credit card issues, stacked rules at banker arbitration schemes lke FOS, and unethical lawyers in cahoots with lawyers in the banking sector.

Our members are also among the 6,500 submissions on cards in the David Murray Review as well.

Our members filed reports of suspicious lawyering with the American SEC' Office of the Whistleblower and our members were interviewed by FBI and SEC officials.

As a result of a drug bust in Los Angeles (that might be connected to stories from a Tina Stagliano) and an IRS Audit Subpoena on 19 Decembre 2014 by IRS Special Agent Daniel Garrido, lawyers Keila Ravelo and Gary Friedman for American Express and Mastercard, confessed to credit card collusion against tens of thousands of shops like Walmart and Target and Home Depot and Restoration Warehouse and Italian Colors Restaurant in Oaklands California, near the IRS Office that raided Hewlett Packard's Larry Tomlinson because of their bribes.

The Australian Reserve Bank documents were very prominent in that case called "US & 17 States v American Express, Mastercard International, Visa Card (and dozens of other parties), and the shares in Amex fell exactly (within .01%) as our members predicted on David Murray's "FSI" Review.

The Legal Services Board and Commission's whistleblowers were very concerned about getting caught up in their bosses shennanigans and they admit their bosses leaked our information to someone who pretended he was a "Mr. Jones" and "Tom Courtney" and lawyers for bankers in Sydney.

The leaking skitful LSBC staff were immediately named in reports at the American Securities and Exchange Commission's Office of the Whistleblower!

The leaks were long before the drug raid and long before the IRS raid by IRS Agent Daniel Garrido started. The leaks were long before NSW Cybercrime stopped Jon Waldron and Keith Hunter fleeing at the airport

Our members are shocked at the cover ups in the VLSB, as are lawyers from the Law Institute CEO & Ethics Office, Mrs Gwen Wallace and Mr Pearce, and local MPs like Kelvin Thomson and Robert Clark.

Because Freidman confessed that the collusion made a card settlement for $2.3 billion in damages became Zero damages, we think the Legal Services Board & Commission breached our confidentiality and is liable under "Part 7" to credit card victims and shareholders in Mastercard and American Express and Visa Card.

Ravelo also threatens to blow the whistle on more collusion by lawyers for credit cards.

The LSBC shut down complaints against lawyers for banks about Libor type rate fixes. The LSBC shut down complaints about a pokie lobbyist and unlicensed lawyer called Mctaggart. The LSBC "lost" complaints from witnesses and the LSBC disagreed with Prosecutors in the American Express Collusion Case.

Everyone at the LSBC handballed enquiries faster than a VFL Footballer because they didn't want to get saddled with a writ.

We think you should investigate the collusion between lawyers for credit cards.

Thank You

Shareholders Foundation Division.
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Control Fraud 2 years 1 month ago #3864

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www.macrobusiness.com.au/2018/04/abcs-th...tgage-control-fraud/

ABC’s The Business slams Australia’s giant mortgage “control fraud”

By Unconventional Economist in Australian Property, Featured Article

at 10:15 am on April 27, 2018 | 33 comments

In the wake of yesterday’s explosive revelations by UBS about systemic dodgy mortgage lending practices by Australia’s second biggest mortgage lender, Westpac, the founder of LF Economics, Lindsay David, was interviewed by ABC’s The Business to discuss the ramifications.
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Jennie Paluka says "report McGarvie to IBAC" 2 years 1 month ago #3868

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The legal services board were so appalled at what the bank's lawyers get away with, it said to see the FBI. I thought they were insane but I did anyway. The FBI jumped out of the bushes on international bribes that conned American retirement funds according to the US International Corruption Prosecutor Eileen Decker, wrote Elliot Sgargetta to Parliament and US law agencies.



Banking royal commission: CBA reputation set for another battering

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Over the next two weeks the royal commission will turn to the way banks, including CBA, treat small and medium-sized ...
Over the next two weeks the royal commission will turn to the way banks, including CBA, treat small and medium-sized enterprise (SME) customers, including farmers. Michael Clayton Jones
Adele Ferguson AFR Woodcut

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by Adele Ferguson

As the Commonwealth Bank reels from a school banking scandal where thousands of children's bank accounts were fraudulently activated by staff as part of a widespread scam to meet aggressive performance targets and earn bonuses, its reputation is set for another battering in round three of the royal commission.

Over the next two weeks the royal commission will turn to the way banks, including CBA, treat small and medium sized enterprise (SME) customers, including farmers.

As Small Business and Family Enterprise Ombudsman Kate Carnell told The Australian Financial Review in January: "The pub test is whether the public will find the actions of the banks unreasonable, unethical or even unconscionable."

Banks behaving badly and acting unethically has become a common theme over the past few years and is why we are in the midst of a royal commission.
"The pub test is whether the public will find the actions of the banks unreasonable, unethical or even unconscionable," ...
"The pub test is whether the public will find the actions of the banks unreasonable, unethical or even unconscionable," Kate Carnell said. Louie Douvis

The school banking and customer referral rorting scandals exposed by Fairfax Media at the weekend, highlight a different dimension of poor bank ethics and culture where staff were caught cheating the bank using teller discrepancy funds or processing valueless deposits to activate school accounts for targets and bonuses – no matter how small. They also faked customer referrals to meet targets.
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CWLTH BANK FPO (CBA)
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When the scandal emerged inside the bank in 2013, a decision was taken not to take any punitive action against staff on the basis it was "somewhat commonplace". An email described the practice as "widespread" and "it would seem unfair to name a handful when more are involved". This was despite it being fraudulent and in breach of the Code of Banking Practice. Parents weren't told, schools weren't told and the board and the regulator weren't told until recently.

The Finance Sector Union issued a statement saying "this is about a sales culture at all costs. It is more evidence that the sales culture within banks is rotten."

CBA chief executive Matt Comyn, who was running the retail bank in 2013, when the misconduct was detected, said: "While this practice did not financially harm any of our customers, it was a breach of their trust. For that I'm deeply sorry. As CBA's new chief executive, my number one priority is to expedite changes that will prevent any behaviour that undermines our customers' trust in us – and to remove any CBA employee who knowingly acts against our customers' interests."
Chilling accusation
CBA chief executive Matt Comyn apologised for the gaming of Dollarmites accounts by branch staff.
CBA chief executive Matt Comyn apologised for the gaming of Dollarmites accounts by branch staff. Louis Douvis

Between now and the end of the royal commission, the public will hear a lot more public apologies from financial institutions, including CBA, for poor behaviour.

None more than the way banks have treated SMEs over the years. Ross Waraker, a marketing researcher specialising in brand, strategy and advertising, has been tireless in his quest to get to the bottom of what went on after a friend who owned a pub in Sydney, The Sandringham Hotel, became a victim of CBA's BankWest in 2012. The pub was put into receivership, despite never missing an interest payment.

Such allegations have dogged CBA since it took over Bankwest in October 2008 for $2.1 billion during the global financial crisis. In a 2012 senate inquiry into post-GFC banking, more than 150 submissions were received from Bankwest customers who relayed stories of how the bank had "engineered" defaults by getting the loan revalued to change the loan to value ratio.

Then in March 2014 the allegations flared up again when Alan Eggleston, who at the time was a Liberal senator, accused CBA of deliberately defaulting some of Bankwest's business to "claw back the acquisition price and prevent its funding costs from rising due to global banking rules".

He told parliament that information brought to his attention could conclude that "CBA had a predetermined outcome it needed to achieve, and it opportunistically capitalised on Bankwest's dire financial situation by manufacturing defaults on certain customers to engineer the result that it wanted".

"If it is true that the CBA got a price reduction exactly equal to the gross value of impaired loans in 2008 then this means CBA paid zero cents in the dollar for those impaired loans," Eggleston said.

It was a chilling accusation that CBA vigorously denied, as well as denying any misconduct. But the speculation lingered and it is something many hope the royal commission will investigate to clear up one way or the other.

In June 2015 a parliamentary inquiry reached conclusions handed down almost a year later that the banks might not have acted illegally when throwing small business customers to the wall, but they did behave unconscionably.
Time to slow down

Waraker, who has established White Collar Crime Reform, gave evidence to the parliamentary inquiry and referred to a submission by Hall Partners that he said "detailed a large number of victims that the CBA deliberately and systematically financially distressed and then constructively defaulted over 1000 performing Bankwest commercial loans to the value of at least $8.2 billion, following the acquisition of Bankwest by the CBA."

CBA denied the allegations and the committee never got to the bottom of it.

The committee concluded that CBA "consistently denied that there have been issues with their conduct and how it engaged with customers. The evidence of witnesses and submitters to this inquiry has strongly called into question the Commonwealth Bank's denial of unreasonable or unethical conduct."

Fast-forward to 2018 and Waraker has made a submission to the royal commission. He told the Financial Review he hoped the royal commission has enough time and resources to research and prepare adequate case studies, which fully expose the banks conduct in respect of these loans.

He also hoped that the bank would finally acknowledge the conduct and quickly agree to compensate victims.

Nationals Senator John Williams, who has sat on the various parliamentary hearings and helped a number of people and farmers who banks sold up – or would have been sold up without his intervention – said over the years there have been many cases were assets were sold at firesale prices, even if the customers hadn't missed an interest payment.

He said it made a mockery of section 420(a) of the Corporations Act, which requires receivers to seek the maximum value when selling assets. He hoped the royal commission would look into it.

He said some of the issues raised in the 2015 parliamentary inquiry were too much to get into given time constraints.

The royal commission is also working to a short timeline to investigate such a complex, opaque and powerful industry. It is tearing through institution after institution at lightning speed. It needs to slow down, extend the deadline and give more victims a voice to be heard.
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CNBC USA News: Thornburn 2 years 1 month ago #3869

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ANZ's John Dahlsen: Claw it back; 2 years 1 month ago #3870

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NewsNational

Ex-ANZ director's radical plan to fix Australia's banks
7:04am May 21, 2018
Pause
1:04
/
3:03

Fullscreen
John Dahlsen on Australia's banking culture

John Dahlsen on Australia's banking cultureNOW
John Dahlsen on Australia's banking culture
The Teller - Part Two
The Teller - Part Two
The Teller - Part One
The Teller - Part One
Holy Real Estate
Holy Real Estate
Sneak Peek: The world's most ancient turf war | Sunday on 60 Minutes
Sneak Peek: The world's most ancient turf war | Sunday on 60 Minutes
Sneak Peek: Australia's bad banks | Sunday on 60 Minutes
Sneak Peek: Australia's bad banks | Sunday on 60 Minutes
MH370: The Situation Room - Part five
MH370: The Situation Room - Part five
MH370: The Situation Room - Part three
MH370: The Situation Room - Part three
MH370: The Situation Room - Part two
MH370: The Situation Room - Part two
MH370: The Situation Room - Part one
MH370: The Situation Room - Part one
Sneak Peek: What happened to MH370?
Sneak Peek: What happened to MH370?
How Daryl Floyd has persevered in the search for his brother's body
How Daryl Floyd has persevered in the search for his brother's body
Driven to drink - Part two
Driven to drink - Part two
Driven to drink - Part one
Driven to drink - Part one
Sneak peek: Driven to drink | Sunday on 60 Minutes
Sneak peek: Driven to drink | Sunday on 60 Minutes
100 Million dollar baby - Part two
100 Million dollar baby - Part two
100 Million dollar baby - Part one
100 Million dollar baby - Part one
Pay up
Pay up
Striking a nerve - Part two
Striking a nerve - Part two
Striking a nerve - Part one
Striking a nerve - Part one

Written by former ANZ director John Dalshen.

There’s anger in the streets about what’s coming out of the Royal Commission into the banks.

And who could blame people for wanting to see heads roll, from the top.
A former director of ANZ has come up with a radical plan to help fix the banking problems in Australia. Picture: 60 Minutes
A former director of ANZ has come up with a radical plan to help fix the banking problems in Australia. Picture: 60 Minutes
Ex-ANZ director John Dalshen says the high flyers in the banks should give their bonuses back. Picture: 60 Minutes
Ex-ANZ director John Dalshen says the high flyers in the banks should give their bonuses back. Picture: 60 Minutes

I would prefer to see the senior figures of Australian banking give back the extravagant bonuses and the massive salaries. I’m convinced this will not only garner public support – it might also improve the share price.

The Teller: The toxic culture of the banking sector revealed

Those working in the frontline of banking, at a local branch, are feeling the heat from an angry public. But it’s not fair to blame them.

They’re operating in a system of sales targets and incentives designed by other people. And naturally those other people are further up the chain of command.
Liz Hayes and Mr Dalshen spoke about the problems with the banking sector that have been laid bare by the royal commission. Picture: 60 Minutes
Liz Hayes and Mr Dalshen spoke about the problems with the banking sector that have been laid bare by the royal commission. Picture: 60 Minutes
Related Articles

Life-long hush agreements reveal toxic culture in banking sector
AMP directors quit amid banking royal commission findings
Commonwealth Bank admits to losing almost 20 million bank account records

There are many things that need to happen to restore trust in Australia’s banks. A good start would be for boards and senior executive staff to take a meaningful cut in take-home pay.

Some of the packages paid to CEOs and others at the top of the tree are mind-boggling. And as the banking Royal Commission has heard, a terrible culture of greed, deceit and pressure has taken hold.

So my call is to give it back – now.

But there’s also room for other constructive changes.
Former bank teller, Catherine* told 60 Minutes her profit-driven workplace culture became unbearable. Picture: 60 Minutes
Former bank teller, Catherine* told 60 Minutes her profit-driven workplace culture became unbearable. Picture: 60 Minutes
Non-disparagement deeds are usually secret and they last a lifetime. They have a chilling effect on public debate.
Non-disparagement deeds are usually secret and they last a lifetime. They have a chilling effect on public debate.

The banking industry is competitive and ultimately senior staff and boards are accountable to the market, particularly the big funds investors who are making decisions on where to get the best return for superannuants, for example.

But the need for high returns cannot mean that we turn a blind eye to behaviour which is morally or legally wrong. This is a test for our community.

There’s a good argument, too, that there is too much regulation of the banks. This might seem to go against getting accountability and honesty in the system, but the truth is that the cost of regulation is high and it may not be the best way to get integrity back into the system.
Head of the Finance Sector Union, Julia Angrisano. Picture: 60 Minutes
Head of the Finance Sector Union, Julia Angrisano. Picture: 60 Minutes
Ms Angrisano told reporter Liz Hayes non-disparagement deeds have the potential to influence what stories are heard in the current Financial Services Royal Commission. Picture: 60 Minutes
Ms Angrisano told reporter Liz Hayes non-disparagement deeds have the potential to influence what stories are heard in the current Financial Services Royal Commission. Picture: 60 Minutes

A more effective approach would be to have more, smaller banks than just four huge banks who are effectively a law unto themselves. Having more also creates stronger competition.

Thirdly, it is good the penalties have increased substantially to reflect the gravity of the crime. Plenty of people have gone to gaol for way less than some of the behaviour we’ve seen playing out at the Royal commission.

The Royal Commission will hopefully get beyond airing dirty laundry, as important as that is, and move to ensure that there is genuine change so that we never again see the collapse in trust we’ve witnessed. However getting meaningful change is by no means assured.
The banks are preparing for another week of intense grilling at the royal commission this week. Picture: 60 Minutes
The banks are preparing for another week of intense grilling at the royal commission this week. Picture: 60 Minutes

The banks have a very powerful lobby in Canberra. Recall that it was only when the banks agreed to a Royal Commission that Prime Minister Turnbull went along with it – even though it was obvious that a powerful inquiry was inevitable.

In some ways, getting it right is very simple. The yardstick needs to be what you would tolerate being done to you or your family. Is it acceptable to sell you something you don’t need? There’s no doubt that the system of extravagant bonuses has warped some fundamental human decency.

I encourage you to join me in my campaign to bring honesty back to banking – starting with having bankers give back the money they should never have accepted.

To watch ‘The Teller’ in full and for more on 60 Minutes, head to: www.9now.com.au/60-minutes
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US IOG investigation. 2 years 1 month ago #3872

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Dear Ms Tyrell Davidson

Complaint by Dennis Sgargetta & Associates Accountants.

Kindly file this investigation by the OIG into the political donations. . The Legal Services Board should always call the IRS Criminal Division if it wants to know what whistleblowers reported before the arrests and afterwards by the Organized Crime Drug Enforcement Task Force.








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Subject: Automatic reply: [BULK] Victorian Ombudsman's findings of corrupt conduct in the APRA directors' legal services board
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