Todays afr has a major article detailing Deloittes findings of major fraud and malpractice on the part of Blumberg. They say their investigation shows he has taken many tens of millions -in the region of $100 million and broken a litany of laws and corporate governance rules. It sounds like anything Blumberg says should be treated with great caution based on this. It seems he has been treating Opes as his personal bank account- for withdrawals, not deposits. Tens of millions milked for Opes have been transferred to tax havens in the names of relatives. Fleets of fast cars luxury residences, furniture etc all paid for by money taken from Opes and related company accounts. It is a full article- free viewing. Is there now. afr.com.au
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