Simon Your three thousand dollars would be better spent on good...

Simon
Your three thousand dollars would be better spent on good vodka while you are in Siberia .

A full report was made on Resolute Capital operations and given to ASIC and a 'certain person' in the PIFAG many years ago by the PIFI.

This is just one of a multitude of exploitation of the PIF made in complete contraventions of the PIF -PDS investment risk criteria . We Know that hundreds of millions of dollars was taken out from the PIF unlawfully ,by so called independant directors to pay out the MFS dividend , shore- up Living and Leisure , pay out the Fortress loan. And Gawds knows how many other abuses we would find was made with PIF investors money -if you could just get your hands on the PIF files . Even our illustrious leader Jenny H has stated publically- words to the effect - that the PIF was used as -a personal bank account by King.

Here is a narrative given to me by a friend who was fortunate enough to be at the ASIC v Managed Investments Ltd hearing when a witness was cross examined.

I cannot vouchsafe for the exact words used of course ,but this is a general interpretation from memory only:

ASIC prosecutor to the witness : You were a director of this so and so Fund
Answer: Yes
ASIC Prosecutor. And this Fund was a completely independent Company
Answer: Yes
ASIC prosecutor; Do you remember signing this so and so document on the so and so date
Answer : I sign thousands of documents i cannot remember every document i signed
A large projector screen is then displayed in the court room with a signed document showing the directors signature.
ASIC Prosecutor : Is that your signature
Answer Yes - well i suppose i must have signed it . Well it like this when we first started the company King would go- off and do certain deals and tell us afterwards what he had done . When we listed on the ASX he kept doing the same thing.