Luxury cars and beachfront home, but fraudster only has $200 to … – Newcastle Herald

Lemuel Page An embattled developer and fraudster avoided plummeting into bankruptcy after claiming he only had $200 in his bank account and couldn’t repay the $17 million he owed to former friends and associates. Despite his cries of crippling financial stress, Lemuel Page, 48, is still spotted driving around the Hunter in a luxury Mercedes 4WD and Porsche convertible, both worth…

ATO and ASIC taskforce makes use of intelligence sharing to weed out phoenix companies and rogue pre-insolvency … – SmartCompany.com.au

A taskforce of federal government agencies is used shared intelligence to uncover potential phoenix operators and rogue pre-insolvency advisers, but the business community will still have to wait to see whether phoenix prevention tools like director identification number (DINs) ever make their way into legislation. On Monday ASIC commissioner John Price told Fairfax that phoenix advice passed…

The six-month search for a $10-20 million ecstasy lab in Canberra – Daily Advertiser

Chemical waste from cooking drugs, carelessly discarded by Canberra’s own Walter White, led the authorities to Stanley Hou’s drug lab. The chemicals were picked up by water testers, who triggered a six-month search for the source of the contamination that uncovered a commercial grade clandestine drug lab capable of producing $10-20 million of MDMA. Busted: Stanley Hou,…

Hospitality sector hit by a wave of administrations as it grapples with the post boom economy and stay-at-home drinkers – The West Australian

POOLSIDE Runway Show at Matisse Beach Club on Saturday January 21st, 2017. Fashion Parade Picture: John Koh. With a clutch of appointments into the sector in recent months, insolvency firm McGrathNicol is cautioning about growing stress in WAs hospitality industry. The combination of WAs softer post-resources boom economy, cautious consumers and stay-at-home drinkers tapping the…