'Rats chasing their tails': How the law caught up with Philip Whiteman


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Liquidators Andrew Yeo and Gess Rambaldi of Pitcher Partners are investigating allegations creditors, including the ATO, were ripped off when more than 360 companies were phoenixed by companies controlled by Whiteman. They are assisted by Pitcher Partners director Lindsay Bainbridge (a talented up-and-comer at the firm) and senior analyst Will Sier.


This week, the Federal Court has been hearing public examinations into the affairs of four key businesses – Armstrong Shaw, AS Services, DNV Accountants and Business Advisors, Bolton Swan and Ainslie Harding Wood Solicitors – allegedly linked to Whiteman’s scam.


The examinations are expected to take months with 45 witnesses to give evidence. Witnesses include Whiteman himself, his ex-wife and business partner Sherife Ymer, other business associates, liquidators Andrew Dunner and Richard Rohrt, valuer Michael Bent and the group’s internal and external lawyers.


Despite their alleged contempt for regulators and the law, Whiteman and his associates must have known the jig was up when the tax office raided businesses linked to his suburban accounting firm for the second time in April 2017.


Article source: http://smh.com.au/domain/domain-news/latest-news/splitting-a-block-in-two-things-to-consider-before-you-invest-20170220-guh4c4.html

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