This Monday, page-49

The Age gives alarming details of the outrageous Gutnick criminal activity below..

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Then there was the clever scheme when it came to fundraising for Merlin, a publicly-listed Northern Territory diamond explorer, from another Gutnick-linked entity known as Chabad Properties.

Given to Merlin's auditors to back up the claim the company was about to receive $900,000 from Chabad was a partial reproduction of a cheque drawn in the name of Gutnick's wife Stera.

As it turns out, the cheque was never presented and the account on which it was written didn't even have the money to honour it if it had been. Instead, Axis invoiced Merlin for $900,000 on October 19.

It was paid on the same day, and by the following day had made it into Chabad Properties' bank account, from where it was transferred ... back to Merlin to pay for shares.