AMP 1.08% $1.84 amp limited

the buyer and the seller

  1. 831 Posts.
    Apart from very serious trade practices violations, corporations law breaches, ASIC and ASX as well as APRA bungles the AMP is now a dead duck in more ways than one.

    It is indeed a very fortunate thing for Arthur Adnersons that they have dissolved into thin air. A recently re circulated document shows clearly that previous boards, Anderson Consultants as well as some of the larger law firms in the UK and Australia were complicit in the milking of this once fabled giant through overcharging of fees and through commissions which ran into the tens of millions if not hundreds with costs and other items of outgoings padded to the hilt and with all transactions between 1995 and 2000 closer than arms length.

    The ISle of Man, Caymans, Gibralta, the US and Switzerland featuring in parking schemes, commissions and round robbin transactions which involved directors and high ranking management.

    In 2000 the company became aware of the practice and its foreign management continued with the practice. Documents reveal that kick backs to sellers and buyers of shopping centres, construction companies and 'consultants;' including former politicians ran into millions.

    The Big Bank is is no different. The government of the day cannot hide behind an inflated and overheated economy and the 'war against terrorism' to shirk from their responsibility.

    Only an apathetic public can allow them to get away with it. Wait for the channel 4 documentary. The big bank indulegd in a similar way. Their p[revious managers were mostly responsible.

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