Vizard V Rivkin

[rick James]

Mate you're unreal, where have i bloody well condoned it?

Insider trading is NOT a class thing.

Is it possible for you to actually think this through without getting hysterical with generalisations?

How is it not a class thing?

I'm a middle class/upper middle class earner, my share information coems through publicly released information from companies, and through paid advice advice i get, also based on publicly available information.

Vizard is a millionaire and a member of the melbourne elite, who works on boards of companies (to get a spot on the board you HAVE to be very loaded, plain and simple) professionally, and is privvy to a LOT of extra information that I am not.

He abuses this info, and gains an advantage over every other investor in the market and makes a profit from it, completely undermining the designed nature of the market.

Unfair advantage ot the upper class. A very distinct advantage at that.

 

[morgoth]

Now it turns out that this upstanding citizen diverted money off-shore to avoid paying tax (amongst other things). For such a fine person it was odd that he did not take the stand against his former book-keeper who alledgedly took money from him.

Hmm maybe the thought of being cross examined under oath did not appeal to him.

This guy has gotta get some jail time.

 

[Jumpin' Jimmy]

Vizard is morally bankrupt.

 

[Falchoon]

Now it turns out that this upstanding citizen diverted money off-shore to avoid paying tax (amongst other things). For such a fine person it was odd that he did not take the stand against his former book-keeper who alledgedly took money from him.

Hmm maybe the thought of being cross examined under oath did not appeal to him.

This guy has gotta get some jail time.

weren't the words "for fear of incriminating himself" used?

It's all unravelling at a rate of knots, "prosecutor D Trapnell told the court Mr Vizard was no longer a sufficiently credible witness and the theft charge had been dropped"

ouch

"The fate of the missing $2.6 million remained a mystery"

Great job by ASIC

 

[morgoth]

DJ MARKET TALK: CORRECT: Vizard Banned For 10 Yrs, Not 5 Yrs

1239 [Dow Jones] CORRECTION: Melbourne businessman Stephen Vizard gets 10 year ban and
monetary penalty for trading on stocks linked to Telstra (TLS.AU) while he was on board
of telco, Sky News says. Judge says ban sought by ASIC, nicknamed the corporate puppy dog
now for lack of willingness to pursue criminal charges, should have been higher and 10
year ban more appropriate rather than 5 years sought. ASIC plans Melbourne briefing
later. (An item at 0219 GMT incorrectly stated the term of the ban). (IGP)



(END) Dow Jones Newswires
July 27, 2005 22:39 ET (02:39 GMT)
Copyright (c) 2005 Dow Jones & Company, Inc.

Thursday 28 July 2005 12:39:31:510 AEST

 

[- PC -]

He can still be a Melbourne social butterfly while Rivkin rolls over in his grave

 

[Falchoon]

He can still be a Melbourne social butterfly while Rivkin rolls over in his grave

Rivkins death is irrelevant to the argument, he may have committed suicide with the same amount of pressure Vizard is currently under, and Vizard would not commit suicide under Rivkins pressure.

Weekend detention does not equal a sentence to death.

 

[Jumpin' Jimmy]

Anyone care to contribute suggestions for a top 10 list of why Vizard got a "10 year naughty boy wrist slap"?

1. Otherwise a dangerous precedent might be set whereby Melbourne's establishment figures would have to face serious overcrowding conditions in Pentridge.

 

[- PC -]

Anyone care to contribute suggestions for a top 10 list of why Vizard got a "10 year naughty boy wrist slap"?

1. Otherwise a dangerous precedent might be set whereby Melbourne's establishment figures would have to face serious overcrowding conditions in Pentridge.

2. He didnt want to have to show the boys in Pentridge ''Full Frontal '' repeats.

3. Howtha Fakharwe supposed to know about rugs?

 

[Deej]

Fair punishment.

The damaged reputation is more punishment than the sentence anyway, those who think he's gotten off lightly i reckon have a militant tall poppy complex.

 

[- PC -]

Fair punishment.

The damaged reputation is more punishment than the sentence anyway, those who think he's gotten off lightly i reckon have a militant tall poppy complex.

Deej, he got done for what he got caught doing. You think perjury is ok?

There is more dirt below the surface in this persons case. I admired Vizard the comedian.. I dont admire Vizard the businessman.

 

[morgoth]

It is only going to get worse for Vizard.

The ATO are about to go through him like a does of salts, ASIC are pussies compared to these guys. Seems old Steve may have moved money off-shore to avoid tax and may have used a charitable trust for non charitable purposes.

Also he has made statements regarding the insider trading under oath in the past and may be up for perjury.

Also some rumours around that there are other potential insider cases that may be brought against him.

This guy needs time in jail, and Deej in my case it aint class envy, I deal with people with money every day.

 

[Deej]

It is only going to get worse for Vizard.

The ATO are about to go through him like a does of salts, ASIC are pussies compared to these guys. Seems old Steve may have moved money off-shore to avoid tax and may have used a charitable trust for non charitable purposes.

Also he has made statements regarding the insider trading under oath in the past and may be up for perjury.

Also some rumours around that there are other potential insider cases that may be brought against him.

This guy needs time in jail, and Deej in my case it aint class envy, I deal with people with money every day.

If more comes up, i agree he needs jail time. But the comments in this thread were about giving him jail for insider trading, and i just don't rate it as a serious crime.

 

[- PC -]

If more comes up, i agree he needs jail time. But the comments in this thread were about giving him jail for insider trading, and i just don't rate it as a serious crime.

Deej the original post was comparing why Rivkin was sentenced and Vizard not. Thats where the jail time comes from

 

[Jumpin' Jimmy]

If more comes up, i agree he needs jail time. But the comments in this thread were about giving him jail for insider trading, and i just don't rate it as a serious crime.

You may not rate insider trading as a serious crime but something must be done to deter those businessmen who misuse their positions of privilege and abuse the trust placed in them.

As things currently stand the risk of being found out is grossly outweighed by the potential ill-gotten gains. Then if the penalty is a paltry fine and limited disqualification from directorships that amounts to a gilt-edged invitation for those with less than impeccable business morals. Based on what Steve Vizard appears to have done(time will hopefully reveal the full extent) he should not be allowed to get away without thorough investigation, given his high profile in the Australian community.

One way for Peter Costello to prove he does have a political backbone and is Prime Minister material would be if he instigated an immediate and full review of existing regulations/penalties for insider trading. Unless I have missed something very recently his silence thus far has been deafening. Can you imagine the furore if Vizard had done something similar as an ACTU official?

 

[Frodo]

There is no doubt that there is a 'boys' network operating in ASIC. Rivkin was not one of the boys.

The interesting part for me is that the Director that supposedly gave Rivkin the information was never prosecuted. Albeit he never profitted, neither did Rivkin. Vizard did profit and has really got away with it.
It all stinks.


But anyhow, it can be a dirty rat race at the top end of town.

ps Insider trading goes on every day. You can see it with absolute clarity at times. Stock suddenly shoots up on heavy trade then after an hour a halt is called and news is released. Someone let the info out or traded before anyone else knew. Happens a lot and is blatant. Must admit to have done it myself!!!

 

[Deej]

There is no doubt that there is a 'boys' network operating in ASIC. Rivkin was not one of the boys.

The interesting part for me is that the Director that supposedly gave Rivkin the information was never prosecuted. Albeit he never profitted, neither did Rivkin. Vizard did profit and has really got away with it.
It all stinks.


But anyhow, it can be a dirty rat race at the top end of town.

ps Insider trading goes on every day. You can see it with absolute clarity at times. Stock suddenly shoots up on heavy trade then after an hour a halt is called and news is released. Someone let the info out or traded before anyone else knew. Happens a lot and is blatant. Must admit to have done it myself!!!

Vizard lost $360k on the deal, he didn't profit from it.

It has been lost amidst the rush to kick him that Vizard has in his time donated over $15 million dollars to charities....not bad for a supposed 'crook' eh.

 

[- PC -]

Vizard lost $360k on the deal, he didn't profit from it.

It has been lost amidst the rush to kick him that Vizard has in his time donated over $15 million dollars to charities....not bad for a supposed 'crook' eh.

OMG I am so sorry deej I didnt know Robin Hood was alive.

By that logic I can sponsor a child in Africa and steal from people ...because hey I am a charitable person.

Dont excuse one action by promoting another

 

[Frodo]

Vizard lost $360k on the deal, he didn't profit from it.

It has been lost amidst the rush to kick him that Vizard has in his time donated over $15 million dollars to charities....not bad for a supposed 'crook' eh.

He did it with monetary gain in mind by breaking the law. He is no more worthy that a bank robber.

Don't get me on to charities. Bust way of money laundering around....and full of tax loopholes.

 

[Jumpin' Jimmy]

Vizard lost $360k on the deal, he didn't profit from it.

It has been lost amidst the rush to kick him that Vizard has in his time donated over $15 million dollars to charities....not bad for a supposed 'crook' eh.

Any semblance of intelligence and decency you may have had to your credit has now gone out the window with those statements Deej. In fact you sound exactly like Vizard himself or one of his remaining inner sanctum. Who says you cant buy loyalty these days?

The only regret or remorse ever shown by Vizard is that he got caught.

Blind Freddy knows there must still be plenty of lovely loot safely smuggled away waiting to be divvied up after things have cooled off a bit.

 

[morgoth]

Deej

The book-keeper has alledged that the charitable trust was a front and a means for Vizard to reduce his tax burden (claim a deduction for making the contribution to the charity and then all earnings are tax free) and that he has benefited from the trust since.

As such the ATO is beleived to be about to have a very close look at his 'charitable' activities. Guy is dodgy.

 

[Deej]

Deej

The book-keeper has alledged that the charitable trust was a front and a means for Vizard to reduce his tax burden (claim a deduction for making the contribution to the charity and then all earnings are tax free) and that he has benefited from the trust since.

As such the ATO is beleived to be about to have a very close look at his 'charitable' activities. Guy is dodgy.

This guy is a thief remember, he stole a fair bit off Vizard and is now blabbing all and sundry to whoever wants to listen. The guy's a dill, the more he talks the more he paints himself to be a lieing thieving snake, no matter what the truth is.

Won't believe it till they prove the charity was a scam. And if it isn't a scam then someone's gonna get it for slander big time, cause they are very serious accusations. Almost as bad as you can get in a moral sense.

I reckon his life could be in danger just quietly.

 

[Deej]

Blind Freddy knows there must still be plenty of lovely loot safely smuggled away waiting to be divvied up after things have cooled off a bit.

If Vizard owes money to the taxman, it's because he has earned a lot of money. How has he earnt his money? Certainly not all though shares.
Some through his legitimate businesses, media duties, legal work, television, and some through property. He owns or has owned a number of Toorak properties, and i'm talking big arse places worth many many millions, done them up, sold them for a good profit. Millions of profit.

What you have written is basically slander, you have no proof or idea. Unless you know the guy's dealings then you're talking sh#t based on what you read in the papers. If you know things maybe you need to fess up and come clean, what exactly do you know that we all don't?

 

[Jumpin' Jimmy]

What you have written is basically slander, you have no proof or idea. Unless you know the guy's dealings then you're talking sh#t based on what you read in the papers. If you know things maybe you need to fess up and come clean, what exactly do you know that we all don't?

Deej.... it is you who claims to know all and that Mr Vizard is as pure as the driven snow.

Close to the camp are we Deej?

So far you are looking very silly and indications are that before too long will be made to look like an absolute goose.

 

[morgoth]

Deej speak to blokes in the securities trade, it was pretty well known what he was up to re trading and it is believed he is being investigaged for other breaches.

By the way the book-keeper did not steal from Vizard, he maed inccorect accounting records and based on his testimony this was so that money could be funnelled off-shore. Sadly your man refused to take the stand and refute these claims, seems he does not want to be cross examined under oath. Why could that be?