Clive Palmer has been accused of “dishonesty” and assisting in a “fraudulent breach of trust” for his role in the use of more than $12m in funds from his former Chinese business associates, documents filed in the Queensland supreme court show.
A statement of claim filed on behalf of two Chinese owned companies – Sino Iron Pty Ltd and Korean Steel Pty Ltd – alleges that two separate payments of $10m and $2.167m of funds held by the Palmer-controlled company Mineralogy were made in breach of a purported agreement to spend the funds only on port management services.
The companies argue that instead the $10m amount was sent to Cosmo Developments Pty Ltd, which is controlled by Palmer and is also a defendant in the proceedings. The $2.167m amount was sent to Media Circus Network Pty Ltd, the companies allege. The Brisbane-based advertising firm has previously been ordered to produce details of the payment.
The documents say that Palmer “knowingly assisted” in an alleged breach of trust by Mineralogy for the two amounts. They said that Palmer signed two cheques that authorised the two payments to Cosmo Developments and Media Circus Network.
http://www.theguardian.com/world/2014/jul/24/clive-palmer-dishonest-in-use-of-12m-from-chinese-companies-court-told
Clive really does seem to believe that as a billionaire, he doesn't have to play by any of the rules that apply to everyone else, either in business or in the parliament. As he said after his now-infamous stoush with the Chief Clerk of the Senate, "I didn't get to be a billionaire by taking advice from anyone else". Quite.
Trust him? I don't think so.
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