We’d like to welcome you to INQ, Crikey’s ambitious new inquiry journalism initiative. Starting June 24, INQ investigative reporting — lifting the rocks, connecting the dots, following the money trail and exposing misuse of power — will appear regularly in Crikey.
We look forward to sharing this exciting new phase with you.
Tamsin Creed, Publisher
Lewski’s actions at Prime Trust were among the most brazen acts in Australian corporate history.
Prime Trust swindled investors out of millions. But its directors escape penalty because ASIC got its dates wrong.
Bill Lewski and fellow Prime Trust directors, already found guilty of corporate law breaches by the Federal Court, now face a class action for allegedly authorising secret multi-million dollar payments for themselves.
Bill Lewski and his colleagues at Prime Trust are accused of making expensive and fraudulent transactions. But ASIC is treading very carefully.
The corporate watchdog is putting two directors of collapsed retirement fund Prime -- Bill Lewski and Michael Wooldridge -- into the dock. Their answers on the dramatic downfall are intriguing.