ryan mount for ceo of the year
Maybe it is his fellow director JG.
given they raised $28,482,000 in the 3 years (2016-2018 cash flow statements) it makes you wonder why management didn't spend any money developing or diversifying. They repeatedly mention they were reviewing their position on the qld tenements and opportunities to joint venture or farm out to interested parties.
Given RMs personal relationship in the SI I suspect this was a contributing factor to not develop QLD assets, but surely when considering who are the winners out of this, litigation costs only contributed $2,003,000 of monies raised so $26m with little to show for the effort
Spot on. BraveNewWorld on HC is trying to post some bullshit about axiom and being Australian. 1st axiom is delisted and has been for almost 2 years suspended. If axiom was australian and serious about shareholders value and protection it would have all major nickel assets in SI including money and every broker supporting him. Instead zero due to years of lying to shareholders, investors and Being Australian. BraveNewWorld check your facts before you start posting fake news. Fake news games destroyed axiom blogging team!
Massive amounts disappeared...where did all the $$go??
$1.1 mln just on one salary.
15k per month for one floor just to Ryan at the Heritage Hotel
First class to London, Australia
300m2 office in Brisbane CBD for secretary only
Ahmes, Geo , BraveNewWorld, MCFJ,Deet as part of forum propaganda
Wendy and family
10 +/- Hilux in SI
Lawyers about $12mln
10 years of useless legal cases!
But he was unable to pay for a ship to collect ore???
Proper Engineers all left axiom shortly into employment contracts???
was amazed so many got sucked into it
it was and has been a scam imo... should be investigated big time
Panama Papers tax haul tops $143 million
Tom McIlroy and Ronald Mizen
Jan 19, 2021 – 12.00am
A Tax Office investigation sparked by one of the biggest leaks of confidential financial information has led to more than $140 million in new liabilities, with a small number of criminal investigations continuing.
About 1400 Australians were named in the Panama Papers leak in April 2015, which included 11.5 million files from Panamanian law firm Mossack Fonseca. Newly released data shows the ATO has completed more than 500 audits and reviews linked to the revelations, with more work under way.
A leak of 11.5 million files from Panamanian law firm Mossack Fonseca sparked the global investigation.
So far the result is more than $143 million in additional tax liabilities raised and cash collections in excess of $37 million, as of the end of 2020.
The leak, and a massive investigation by media groups including The Australian Financial Review led by the International Consortium of Investigative Journalists, revealed the inside workings of a shadowy financial system created to help wealthy and powerful people shift capital outside the view of governments and tax agencies.
An Australian Taxation Office spokesman said the organisation had worked with the cross-government Serious Financial Crime Taskforce to analyse and cross-check data obtained by authorities in April 2016.
"A small number of cases are ongoing due to the complexity of arrangements, ongoing criminal investigations and the need to obtain additional information from our international partners," the spokesman said.
"International tax evasion remains a significant threat to the tax and superannuation systems, with increasingly sophisticated arrangements and transnational criminal networks participating in and facilitating this activity."
The ATO expects major data leaks to become more frequent in the future, reflecting the globally connected economy and concerns about financial transparency and tax avoidance by major corporations and wealthy individuals.
Offshore income amnesty
"Data leaks are just one source of information we use to identify risks in the tax and superannuation systems and to detect and prosecute offshore tax evasion and illegal tax behaviour," the spokesman said.
"We are constantly receiving information that assists us to detect and prosecute tax evasion and other criminal activities, including intelligence from concerned citizens and advisers, domestic partner agencies, including AUSTRAC, and our international networks and tax treaties."
About 600 of the Australians caught up in the Panama Papers had already come forward to authorities through an offshore income amnesty, or had declared the income in their tax returns.
The amnesty, called Project DO IT (disclose offshore income today), saw thousands of taxpayers report $240 million in additional income and $1.7 billion in offshore cash and assets.
The ATO said in 2016 it would investigate more than 800 wealthy Australian clients of Mossack Fonseca. Offshore financial entities are not illegal but tough disclosure laws exist in Australia.
"We are committed to protecting the community from offshore tax evasion, with our sophisticated tools and information sharing with domestic and international partners working to detect and disrupt the activities of those who attempt to use offshore tax arrangements to evade their obligations and bring them to account," the ATO spokesman said.
The ATO says natural disasters and COVID-19 saw compliance activities fall short.
Tax Office audits reap extra $14 billion in revenue
The SolarWinds attacked compromised US federal government agencies.
Hackers claim to have stolen SolarWinds data for sale for $1.3m
Australia is working with other nations to drive down multinational tax avoidance, including through the Joint Chiefs of Global Tax Enforcement network which includes Canada, the United Kingdom, the United States and the Netherlands.
The latest figures published by the Tax Office show detailed audits of individuals and companies and other enforcement activities in Australia raised $13.7 billion in revenue last financial year.
Tom McIlroy reports from the federal press gallery at Parliament House. Connect with Tom on Twitter. Email Tom at email@example.com
Ronald Mizen is a reporter for the Australian Financial Review based
An Australian lawyer, Greg Sheppard, has been arrested in Port Moresby over an alleged 268m kina (A$96m) fraud involving trust funds from the controversial Ok Tedi mine in Papua New Guinea.
a truck driving down a dirt road: Photograph: Lloyd Jones/AAP© Provided by The Guardian Photograph: Lloyd Jones/AAP
Sheppard, a former Queensland crown prosecutor, was arrested in Port Moresby on Thursday and charged with two counts of conspiracy and two of false pretence over the alleged defrauding of a fund established to assist impoverished communities in PNG’s Western Province.
a truck with a mountain in the background: The Ok Tedi mine in March 2006. Lawyer Greg Sheppard has been charged over the alleged defrauding of a fund established to assist impoverished communities.© Photograph: Lloyd Jones/AAP The Ok Tedi mine in March 2006. Lawyer Greg Sheppard has been charged over the alleged defrauding of a fund established to assist impoverished communities.
He was taken into custody in Boroko prison in the capital, before later being released on 3,000 kina bail.
Police allege 268m kina was misappropriated from the Western Province People’s Dividends Community Mine Continuation Agreement (WPPD CMCA) trust fund and improperly paid into the accounts of the Ok Tedi Fly River Development Foundation and Sheppard’s law firm.
The trust fund was established with profits from the Ok Tedi copper and gold mine to fund development projects, such as roads, schools and health clinics for villages in Western Province impacted by the mine.
But for years, residents of those villages, and politicians in Port Moresby, have complained that none of the money has ever reached Western Province, which remains one of the most impoverished regions in the country.
Related: Papua New Guinea crisis deepens as court orders MPs to return in blow to PM
As far back as 2018, the then prime minister Peter O’Neill claimed that millions of kina belonging to the people of Western Province had been misappropriated.
“Those funds have never reached the people,” he said.
The police investigation began after a formal complaint from the South Fly MP, James Donal.
In a statement issued on Thursday, the PNG police commissioner, David Manning, said investigations were continuing and “other suspects will also be brought in for inquiry into their alleged involvement in committing the fraud”.
“The investigation remains ongoing and includes a detailed forensic investigation into ... the expenditure of the 268m kina, which police will allege were not authorised by the trust … this includes forwarding proceeds from the 268m kina to personal bank accounts.”
Earlier this month, 45-year-old Edna Oai, from South Fly district in Western Province, was charged with 15 counts of false pretence, conspiracy and misappropriation over the alleged fraud.
Gregory James Sheppard, an Australian citizen, has practised law in PNG for more than three decades, and is a partner at Port Moresby law firm Young and Williams. Its website says Sheppard “has acted for a number of prominent clients in Papua New Guinea, including prime ministers, ministers of state and businessmen.”
Sheppard was also the manager of Brisbane indie-pop group, Sheppard, of which three of his children are members. The group had a number-one Australian hit single, Geronimo, and performed at the AFL grand final last October.
The Guardian has sought comment from Sheppard in Port Moresby.
needs a asic investigation
Rampers on HC trying everything to make sure people do not take action against RM. constantly trying to shift blame to the SI government and nobody wants to acknowledge AVQ’s incompetence.
Since AVQ has no money left to pay any consultants and cannot issue shares the mind boggles why they bother. I guess once you are part of a cult you cannot let go
A scam always has been