David Whyte BDO Australia - Report
The scam I am referring to is detailed in
David Whyte's report below.
http://www.equititrust.com.au/Pdfs/...orts - 20120327 - 3rd Report to Investors.pdf
Investors would be mad to go for anything which changes the responsible entity. David Whyte is
ASIC and
Court appointed and has been doing an excellent job to date in exposing both McIvor and the Adminis
traitor.
Let David Whyte do his mandated job and return whats left to the investors... Remember that the Adminis
traitor was appointed by McIvor and despite his protestations of independence
has not answered David Whytes question as to why he is backing a plan that could give McIvor a
$11.3M to
$15.3M windfall to the detriment of ordinary investors... They have
lost all credibility now and unless an adequate answer is given the Administraitors will find themselves
in the cross hairs of ASIC.
Complaints about the Adminsitraitor's actions to date have already ben referred to
ASIC... How on earth can "All Barren" make outlandish statements at the first meeting about changing the RE
without explaining the risk to ordinary investors... David Whyte was
100% right in slamming him about this in his report.
The claim of
2.8M in management fees is another matter which the Administraitor should be
ashamed of. In front of the investors they put on one face and behind the scenes they are just doing
McIvor's dirty bidding by asking for these waived fees to be paid. Again David Whyte exposes and outlines this in his report and asks both McIvor and "All Barren" to respond... All David Whyte gets is silence from the other end...
Absolutely disgusting stuff...
But in case the Adminsitraitor thinks investors are all idiots I encourage all investors to
complain to ASIC about the actions of the Adminstraitor to date... How hard is it to answer a question.
Pretty hard if you are hiding something...
McIvor didn't release the financials in the dying days (
despite pressure from me on this thread) because of the nightmare numbers so when his paid mercenary won't answer pertinent question to ASIC and the Court Appointed receiver then
you can only imagine what they were scheming.
I think that David Whyte has most likely made
ASIC aware of the situation.