The court has also read vital proof regarding the efficiency of Woodlawn Money in handling the fund, which dropped in value from about $forty three million to about $30 million.

He claimed the sole capacity he had acted in was "introducing people today to likely opportunities in PNG".

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The corporate also paid out a large referral or introduction rate to sporting activities administrator Malcolm Giheno – the son of previous key minister John Giheno – in relation to the company getting to invest the funds, Fairfax has learnt.

The revelations have emerged from a row around $43 million of PNG government revenue that was squirrelled away in a little region bank branch in Lismore in northern NSW.

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And a firm they directed also compensated many hundreds of thousands of dollars inside a referral or introduction charge to some former PNG prime minister's son in relationship with receiving the offer to take a position the money.

Mr Chance also alleged that Woodlawn's buying and selling strategy was "not among capable or mindful trader" particularly in mild in the damaging economic news at the time.

He also identified that Woodland Cash had engaged in "misleading conduct" mainly because it did not have an correct economic services administration licence when it was running the money.

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four years Federal government specializing in totally free, reasonable election, says Marape The federal government is focused on providing a free and truthful common election future yr, suggests Prime Minister James Marape. Marape claimed this throughout the opening of two-working day national integrity summit […]