gunning for asic , page-3

AT LAST!! A journalist interested enough to report on ASIC'S failure due to lack of investigation to pick up on the obvious!!!
Well done Laura Millan from the Financial Standard. The Courier mail was also told about 'the show of hands' issue at the EGM but neglected to include it in their recent article.

'The combined voting power of the 200 non-members who were given 1,000 units each (200,000 units), would not have had an impact on the pool of approximately 755 million possible votes," ASIC told the investors, according to Grenadier

"To me, ASIC totally missed the obvious point here, as this aspect of the EGM meeting was not based on investor units held but simply on a show of hands from those who actually attended the meeting," Grenadier said.

The group's president said that hiring actors helped Wellington to elect its chairperson of choice, Wellington managing director Jenny Hutson.

"It seriously makes me question if the rest of the ASIC investigation was up to the high standard one would expect from such a government body," he said.

However, Hutson denied the accusations and in defence referred to ASIC's decision of dropping the investigation.

"The accusations are absolutely false, we didn't do that," Hutson said.
http://www.financialstandard.com.au/news/view/30402316