gunning for asic , page-5

All documents available to me were forwarded to Lisa, and as far as I'm concerned all aspects of the documents were published fairly, as shown below and pasted from her report. Please don't bite the hand that feeds us. It takes time to gain reporters trust and confidence. Lambasting on this forum should be avoided, unlike comments on 'Factbook'

Comments such as this are not warranted .
" Yep, the resulting media article by Lisa Allen failed to mention the glaring omission by ASIC to investigate the real purpose of the 'hired actors' to vote for Wellington Capital Ltd BY A SHOW OF HANDS TO ELECT A CHAIR AT THE EGM IN 2011!"

Please read the complete article:-

Separately, ASIC has investigated complaints from disgruntled PIF investors, known as the PIF Action Group, who had called for an extraordinary general meeting in June 2011 to remove Wellington as the PIF's responsible entity.

According to the letter it is alleged that before the meeting "a group of actors were hired as 'stand-ins and seat fillers', given units in PIF (and) 'pink proxy forms', and were asked to raise the proxy forms to vote in favour of Ms Hutson, who was chairing the meeting".

"ASIC's investigation revealed that PIF units were given to approximately 200 non-members about two days prior to the EGM by way of deeds of gift executed by a third party," ASIC's senior executive leader, Tim Mullaly, writes in the letter.

"The non-members were hired through a talent agency by another third party entity and paid to attend the EGM."

However, Mr Mullaly later states that: "ASIC's investigation found no evidence of Wellington and/or its officers being involved in procuring the transfer of PIF units to the non-members, hiring the non-members or paying the non-members to attend the EGM, therefore there was no basis for any action."

ASIC also investigated complaints about the valuation of the PIF property scheme and whether it complied with the PIF compliance plan and financial services laws.