How to live well on 'nothing a year' - Obeids' financial miracle Kate McClymont April 4, 2012
In contention ... Obeid had been ordered to give the City of Sydney $12 million for selling the council's 'SmartPoles' overseas in breach of a licensing agreement.
In contention ... Obeid had been ordered to give the City of Sydney $12 million for selling the council's 'SmartPoles' overseas in breach of a licensing agreement.
MOSES OBEID is a miracle of financial management. Despite having a taxable income of $100,000 a year, and his wife $80,000, the pair live a sumptuous lifestyle, drive his and hers Land Rovers, employ a maid and somehow meet their annual mortgage payments of $210,000 on their $4.5 million mansion.
Mr Obeid, 43, the son of the controversial former Labor powerbroker Eddie Obeid, told the Court of Appeal he could not pay the $12 million he had been ordered to give the City of Sydney for selling the council's SmartPoles overseas in breach of a licensing agreement.
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