The court has also heard vital evidence with regard to the overall performance of Woodlawn Money in controlling the fund, which dropped in price from about $43 million to about $30 million.
He stated the only potential he experienced acted in was "introducing men and women to prospective options in PNG".
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The business also paid out a large referral or introduction rate to sports administrator Malcolm Giheno – the son of former prime minister John Giheno – in relation to the business getting to spend the resources, Fairfax has learnt.
The revelations have emerged from a row over $forty three million of PNG federal government cash which was squirrelled away in a little region bank branch in Lismore in northern NSW.
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"If I'd the good thing about hindsight in the time I would have taken reverse positions and been hailed being a hero," McNamara claimed. "In the occasions which happened my self-confidence inside the power on the Australian overall economy and its markets wasn't justified and I misplaced my consumer funds.
McNamara mentioned the transfers transpired as a result of banking glitches and were immediately corrected by Woodlawn.
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MVIL's qualified witness Robert Danger, a money belongings trader in Australia specialising in spinoff buying and selling and fiscal financial commitment, alleged that in June 2011, Woodlawn's financial commitment strategy exposed MVIL to "significant possibility".
"I am given a rate for that introduction but that is certainly it. I don't negotiate or play an Energetic role in almost any of this".
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