this little boy cost the taxpayer...

  1. 4,434 Posts.
    ... a hell of a lot more then the taxpayer EVER spent on the abos.
    The rise and fall of Big Jack
    December 13, 2004
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    John Elliot

    John Elliot
    Photo: Craig Abraham

    1941 Born October 3

    1972 Henry Jones IXL is acquired by a consortium organised by Elliott.

    1981 Becomes managing director of Elders IXL after Henry Jones is acquired by rural agency Elders Smith Goldsborough Mort.

    1983 Becomes the president of the Carlton Football Club.

    1985 Made CEO of Elders.

    1987 Becomes federal president of the Liberal Party. Touted as a potential Liberal candidate for the seat of Higgins and a future prime minister.

    1990 The National Crime Authority investigates the buyout of Elders. He leaves Elders IXL. Steps down as Liberal president.

    1993 Begins legal action against the NCA and in December is charged over $66.5 million alleged sham foreign exchange transactions.

    1996 Found not guilty of giving false or misleading evidence to NCA. Acquitted of fraud and conspiracy.

    2001 Loses battle against NCA over the foreign exchange investigations and a Federal Court judge orders him to pay costs of more than $5 million.
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    2002 Fails in a court bid to stop a trial concerning the Water Wheel company and is forced to pay $380,000 to Australian Rice Holdings. The Carlton Football Club is charged with breaching the salary cap and Elliott is deposed as club president.

    2003 Banned from managing companies for four years, fined $15,000 and ordered to pay more than $1.4 million in compensation.

    2004 The Court of Appeal upholds the original order and Elliott resigns from 28 companies.

 
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