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Saturday 17th August 1996
Saturday 17th August 1996
Former business tycoon, Alan Bond, who was once the hero of Australia when he took away the coveted America's Cup from the Yanks in 1983, was convicted of fraud last night after a multi-million dollar scam that took place in 1983. The scam involved the painting La Promenade which was bought by his family company, Dallhold, from his public company, Bond Corporation, for a song...
Bondy (as he is popularly known) was remanded into custody and faces the prospect of a jail sentence when he faces up to court in front of Justice Antoinette Kennedy in Perth on Monday morning. Bond, who is now 58 showed no emotion as the verdicts were delivered. The verdict of the six man, six woman jury was unanimous in their guilty finding on each of four counts, which included:
Bondy's wife of recent years, Diana Bliss, held her head in her hands after the verdict was delivered and refused to comment outside court.
In an added twist the liquidators of Southern Equities Corporation - the recent business name of Bond Corporation, following Bondy's departure, served notice that they would be seeking to recover funds denied to creditors by the fraud.
Outside the court, it was confirmed that this would amount to at least Au$7 million.
Bondy's surgeon, Dr John Saunders, told Judge Antoinette Kennedy after the verdict that he should not be, for medical resaons, put into a cell...
Now Bondy, the convicted fraud, certainly has some incredible aura about him, or did in the 1980s. I recall, with stunned amazement at the time, the incident when Bondy addressed his shareholders in Bond Corporation in the late 1980s. The rumour in the street that Bondy had pulled a dirty on the company and the company was going to fold. After addressing the shareholders not only did they clap but they stood and cheered him like some sort of hero!! This while he was taking their money...
A not so pleasant reality of the mid to late 1980s in Perth was the commonly accepted fact that if you upset Bondy and/or subsequently disgraced Premier Brian Burke you might as well leave town as they would see to it that you never got a job there, or if you were in business that you went out of it...
But at least Bondy didn't pull a Skase and dip off to Majorca squirreling away his ill-gotten gains and then playing "sicko" when called to account in Australia.
The chairman of the Council for Aboriginal Reconciliation, Mr Patrick Dodson, will move today to contain fallout from the Budget cuts by urging members to stay on the Council.
One of the Council's prominent members, Mr Galarrwuy Yunupingu, announced his decision to quit yesterday saying, "I hope that I will influence other Aboriginal reconciliation members and that they will do the same for the sake of seeing that the process is now falling apart because of these cuts."
The Minister for Aboriginal Affairs, Senator Herron, said that it was "very unfortunate" that Mr Yunupingu was resigning as he was "such an outstanding person".
Several other members of the Council which includes Democrats leader Cheryl Kernot, former Liberal Aboriginal Affairs minister Mr Ian Viner and Channel 9 A Current Affair host Ray Martin were said to be reconsidering their positions last night.
The anticipated 1996/97 Federal Budget Winners and Losers:
Winners:
For the second time in six months the shareholders in PosGold Ltd and Gold Mines of Kalgoorlie Limited were asked to back a merger with Normandy Mining Limited - this time with success.
The merger was passed by 98.7% of PosGold shareholders and 98.1% of Gold Mines of Kalgoorlie shareholders.
Normandy's top bod, Robert Champion de Crespigny, was low key about the successful merger simply saying, "It was nice to get it done.... it's been like an exam.... when finished, you have to look at the next plan."
Australian Cricket Board chairman, Denis Rogers, last night confirmed Australia's commitment to the four-nation one-day series starting next week despite the civil war raging in Sri Lanka.
In other related news Shane Warne has decided not to join the team to allow a finger to heal from recent surgery.
Yesterday the small historic former gold mining town resembled a war zone with burnt out cars and buildings, businesses closed and bans on the sale of alcohol and petrol.
Police confirmed that 66 people were arrested, including 6 women.
The Police said the riot apparently started when the drinkers ran out of money and demanded money from local members of the white community.
The police have now been blamed for the rampage and the Aboriginal Justice Council said that the five-hour riot was a "major blow to reconciliation between Aboriginal and non-Aboriginal West Australians".
Residents defended the police saying the rior resulted from a feud which had been festering between among rival Aboriginal groups for months.
Really, I don't know why they allow alcohol to be sold to the Aboriginals in these remote locations. They are a beautiful people but have low tolerance to alcohol and are easily led on to drink by the licensees of liquor outlets who make a killing (financially).
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