Interesting overview by Alan Kohler regarding the Opes Prime...

Interesting overview by Alan Kohler regarding the Opes Prime saga at http://www.businessspectator.com.au/bs.nsf/Article/Opes-Primes-forgotten-three-HASRG?OpenDocument&src=sph.

One line especially applies to JT's case: 'The worst thing about Opes is that its most careful clients have been hardest hit. Because of the way the Opes system operated, conservative clients subsidised the reckless ones...the irony is that the less a client had borrowed from Opes, the more they have now lost.'

According to a CQT ASX announcment on 3 April (http://www.asx.com.au/asxpdf/20080403/pdf/318cwryzby7wtt.pdf): 'An account in the name of Terpu Trust held 7,709,000 shares supporting a margin loan balance of $472,249, which represents a loan-to-value ratio of 16%. Another 7,500,000 shares in the name of John Terpu had no loan balance outstanding and the loan facility was never accessed.'

Bad luck, bad judgment, or something for which the Opes Prime mob is culpable? I guess that's what the court considering JT's case will decide someday...