Corruption/Political Donations
Feb 7th 2004, 6:51 am
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Corruption/Political Donations
http://www.theaustralian.news.com.au...5E2702,00.html
HIDDEN in an obscure corner of the political funding disclosures released this week is a $15,000 gift to the Queensland branch of the ALP.
The donation came from
FB Nominees. Company searches reveal that this is one of a large suite of private companies directed by Richard Scheinberg, a Sydney property developer, the head of Australia's 16th-richest family with an estimated fortune of $265 million and a Jewish community leader.
This, though, is an example of the more transparent disclosures in Australia's inadequate regime for political donations - a regime the Australian Electoral Commission, which administers it, says is full of loopholes and open to large-scale rorting and corruption.
Look behind the FB Nominees donation and a remarkable story emerges. In late 2001, Mr Scheinberg was having trouble with the Queensland Government over a development proposal in Redcliffe, in Brisbane's northern suburbs.
The Government controlled an 8ha V-shaped piece of land, known as The Hook, between two blocks the developer already owned. Local environmentalist Rick Pass said Mr Scheinberg intended to build a canal estate, but needed the extra piece of land. This would radically increase the value of each block within the development to about $600,000 and lift his total profit by $10 million.
HIDDEN in an obscure corner of the political funding disclosures released this week is a $15,000 gift to the Queensland branch of the ALP.
The donation came from
FB Nominees. Company searches reveal that this is one of a large suite of private companies directed by Richard Scheinberg, a Sydney property developer, the head of Australia's 16th-richest family with an estimated fortune of $265 million and a Jewish community leader.
This, though, is an example of the more transparent disclosures in Australia's inadequate regime for political donations - a regime the Australian Electoral Commission, which administers it, says is full of loopholes and open to large-scale rorting and corruption.
Look behind the FB Nominees donation and a remarkable story emerges. In late 2001, Mr Scheinberg was having trouble with the Queensland Government over a development proposal in Redcliffe, in Brisbane's northern suburbs.
The Government controlled an 8ha V-shaped piece of land, known as The Hook, between two blocks the developer already owned. Local environmentalist Rick Pass said Mr Scheinberg intended to build a canal estate, but needed the extra piece of land. This would radically increase the value of each block within the development to about $600,000 and lift his total profit by $10 million.
