IOU 249D, page-98

One part there you have wrong as far as I am aware
"The B2B loans apparently a separate part of the fraud is around $12mil as per the affidavits - these only started in the December quarter 2022 so it would not have formed part of the June 2022 "audited" financial accounts."

Those loans didn't start in December quarter. The Birch Capital loan I am led to believe was actually done in 2021. Depending on dates, according to registrars, Ismail was a director in 2021 from 16th March to 24 December 2021 and check who else was a director at that time - Anthony Dunlop - from 16th March 2021 to 5th August 2021.Remember Piminik is the owner of Birch Capital.

Do you recall when the "Friendly Loan Agreement" was done for the $900,000 to Aaron? 2021! Unfortunately, the documents tabled to court don't have the actual date of signing the loan, but I would be curious if it happened within the dates of Dunlop and Ismail being directors of Birch Capital. IOU gives Birch Capital a $5M loan, Birch capital owned by Piminik, and same year Piminik gives Aaron Lee an interest free loan of $900,000.

Now I'm not saying anything about the above. You make your own judgements. I just find the timings very interesting. Plus, if Birch is such a bad loan, why has it only been picked up now. Where was the auditing???