What went wrong, page-3

If you want to know "what went wrong" read the high lights I just posted on CCC on just how Landau operates from court doc's 21/4/16

If you want a high light here..........


CTR

16. In the course of the CCC Investigation, the Plaintiff traced the funds used by the Defendant to repay Applicants who exercised their Withdrawal Rights(the Tracing Evidence). CCC

17. Based on the Tracing Evidence, the Plaintiff believes that some of the monies used to repay Applicants may have originated from Citation Resources Limited (ACN 118 710 508) (CTR). Mr Landau was director of CTR.

18. The Tracing Evidence shows that between 1 June 2015 to 7 August 2015:

18.1. CTR transferred $1,577,855.17 to Mr Landau’s private company, OKAP Ventures Pty Ltd (ACN 131 358 266) (OKAP) (out of a total of $2,140,202,09 received by OKAP from various sources);
18.2. OKAP transferred $486,800.00 to the Defendant; and
18.3. the Defendant transferred $468,969.73 to applicants who had exercised their Withdrawal Rights.
19. Of the $1,577,855.17 which OKAP received from CTR, $1,329,304 of those monies came from CTR’s Westpac Account (036406 230644) (the CTR Westpac Account).

20. Mr Vitorio Vincenzo Turco, CTR director, has advised the Plaintiff that:
20.1. there are no accounting records held by CTR for the transactions in the CTR Westpac Account; and
20.2. he was not made aware of the $1,329,304 in transfers from CTR to OKAP, despite having undertaken due diligence in relation to CTR on behalf of an acquiring entity in September 2015, nor was he made aware of them on 1 December 2015, following completion of the acquisition and his appointment to the board of CTR.

21. Mr Turco has sworn an affidavit dated 12 April 2016 in the related proceedings, WAD717 of 2015, in which he alleges that monies may have been misappropriated from the CTR Westpac Account (the Turco Affidavit).

22. Based on the Tracing Evidence and the Turco Affidavit, the Plaintiff suspects that the $468,969.73 which the Defendant paid to Applicants who had exercised their Withdrawal Rights may be funds misappropriated from CTR by OKAP and/or Mr Landau. Further, the Plaintiff suspects that these funds are owed to CTR.

23. The descriptions contained in the bank account statements for the CTR Westpac Account record $440,000 of the $486,800.00 which OKAP paid to the Defendant as a ‘loan’, and hence the Plaintiff suspects, at a minimum, that the Defendant owes these funds to OKAP

Oh he is in deep deep sh#t!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
http://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2016/2016fca0416
It is long but with a read. The interviews are piss funny. When you read this. You will realise just how dump the man is.