Mark D Posted January 25, 2019 Share Posted January 25, 2019 https://www.stuff.co.nz/business/110156954/racing-figure-suspected-of-misappropriating-funds-over-a-number-of-years Quote Link to comment Share on other sites More sharing options...
Flagship uberalles Posted January 25, 2019 Share Posted January 25, 2019 Apt surname for the slimeball...He's forkered now! 1 Quote Link to comment Share on other sites More sharing options...
Mark D Posted January 25, 2019 Author Share Posted January 25, 2019 Of course he is a member of the Member's Council 1 1 Quote Link to comment Share on other sites More sharing options...
jess Posted January 27, 2019 Share Posted January 27, 2019 (edited) Sometimes you just wanna scream. We seem to have some hell bent on destroying, from within, any reputation or integrity that the industry manages to establish. Who needs enemies from outside when we've got insiders (some quite high profile) doing what they do .... (another thread on here relates to an individual this applies to in spades ....) Edited January 27, 2019 by jess Quote Link to comment Share on other sites More sharing options...
Reefton Posted January 27, 2019 Share Posted January 27, 2019 (edited) 29 minutes ago, jess said: Sometimes you just wanna scream. We seem to have some hell bent on destroying, from within, any reputation or integrity that the industry manages to establish. Who needs enemies from outside when we've got insiders (some quite high profile) doing what they do .... (another thread on here relates to an individual this applies to in spades ....) Been happening for years Jess and the race fixing saga in Harness racing has got a lot more publicity than this to be fair. Outsiders have always suspected the racing game is rigged and to be fair the Aussies do not help with a lot of their skulduggery(I guess that mirrors the higher rewards over there in the industry). It is fairly clear it is not the racing industry that has been the object of this bloke's issue but equally clearly for a partner in one of NZ's biggest accounting firms it is not a good look. The Accounting and Legal professions have as bad(or worse) a reputation as the racing industry and as an Accountant and racing devotee myself that does not make me very proud(but there are a lot of things in the Accountancy profession and racing game that do not make me very proud). I think it is quite mischievous of the Press to link this guy to the racing game when there is no real suggestion that he has helped himself to industry funds. Edited January 27, 2019 by Reefton Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted January 27, 2019 Share Posted January 27, 2019 But could racing be the cause of his issues? Quote Link to comment Share on other sites More sharing options...
Mooncoin Posted January 27, 2019 Share Posted January 27, 2019 1 hour ago, Chief Stipe said: But could racing be the cause of his issues? Quite possibly Chief. We all know it's not a cheap game as a owner, racing 1, 4 or "90"!! 2 Quote Link to comment Share on other sites More sharing options...
Reefton Posted January 27, 2019 Share Posted January 27, 2019 6 hours ago, Chief Stipe said: But could racing be the cause of his issues? Who knows but I am sure if gambling was an issue it would have been plastered all over the papers. A bloke in his position would be dealing with millions in client funds so maybe $100000 is a drop in the ocean (without being sure I would say partners in a big 4 firm would be earning minimum $750000pa so in reality this is minor but for him to refuse to respond to the disciplinary board indicates that there is a lot more than that to this case). Not responding is a pretty serious business. Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted January 27, 2019 Share Posted January 27, 2019 1 hour ago, Reefton said: Who knows but I am sure if gambling was an issue it would have been plastered all over the papers. A bloke in his position would be dealing with millions in client funds so maybe $100000 is a drop in the ocean (without being sure I would say partners in a big 4 firm would be earning minimum $750000pa so in reality this is minor but for him to refuse to respond to the disciplinary board indicates that there is a lot more than that to this case). Not responding is a pretty serious business. He WAS a partner at KPMG. Isn't currently. Quote Link to comment Share on other sites More sharing options...
Mark D Posted January 27, 2019 Author Share Posted January 27, 2019 1 hour ago, Chief Stipe said: He WAS a partner at KPMG. Isn't currently. Hasn't been for at least 15 years at a guess Quote Link to comment Share on other sites More sharing options...
Reefton Posted January 27, 2019 Share Posted January 27, 2019 1 hour ago, Chief Stipe said: He WAS a partner at KPMG. Isn't currently. 30 minutes ago, Mark D said: Hasn't been for at least 15 years at a guess So do you think he would drop out of KPMG and go back to a pauper's salary? That is fairyland stuff Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted January 27, 2019 Share Posted January 27, 2019 2 minutes ago, Reefton said: So do you think he would drop out of KPMG and go back to a pauper's salary? That is fairyland stuff I wouldn't know I'm just repeating what the article said. Quote Link to comment Share on other sites More sharing options...
Mark D Posted January 27, 2019 Author Share Posted January 27, 2019 1 hour ago, Reefton said: So do you think he would drop out of KPMG and go back to a pauper's salary? That is fairyland stuff I did not say or even indicate that I was just pointing out that he hadn't been a partner at KPMG for some time (and as such it could be construed as mischievous for the article to mention it. But he was clearly not dragging in what he was at KPMG as a "sole practitioner" and his lifestyle would have remained pretty much the same IMO. Quote Link to comment Share on other sites More sharing options...
Reefton Posted January 27, 2019 Share Posted January 27, 2019 54 minutes ago, Mark D said: I did not say or even indicate that I was just pointing out that he hadn't been a partner at KPMG for some time (and as such it could be construed as mischievous for the article to mention it. But he was clearly not dragging in what he was at KPMG as a "sole practitioner" and his lifestyle would have remained pretty much the same IMO. If he is doing consultancy work(as it is quite likely an ex KPMG partner would be in demand for) he could be earning twice as much. Much more relevant to say he is ex KPMG (given that a lot of the people interested would be Accountants themselves) than to mention his links to the Racing Industry. After all did they say he is a member of the local Rugby, Bowls or Golf Club or whatever? It is simply bringing racing into disrepute when there is clearly little or no link to his racing interest in whatever it is he is supposed to have done. Quote Link to comment Share on other sites More sharing options...
Mark D Posted January 27, 2019 Author Share Posted January 27, 2019 25 minutes ago, Reefton said: If he is doing consultancy work(as it is quite likely an ex KPMG partner would be in demand for) he could be earning twice as much. Much more relevant to say he is ex KPMG (given that a lot of the people interested would be Accountants themselves) than to mention his links to the Racing Industry. After all did they say he is a member of the local Rugby, Bowls or Golf Club or whatever? It is simply bringing racing into disrepute when there is clearly little or no link to his racing interest in whatever it is he is supposed to have done. I very much doubt that Quote Link to comment Share on other sites More sharing options...
Mark D Posted January 27, 2019 Author Share Posted January 27, 2019 Plus he was heavily involved in racing administration - president of the WRC, on the RACE board, involved in NZTBA and as mentioned before on the Members Council of the NZTR - hardly equivalent to being a member of the local rugby club. If the NZTR was as interested in integrity as it proclaims itself to be he would be suspended from the Council. Rather the chair of that Council will likely do everything possible to diminish his actions because he is "one of the boys!". Quote Link to comment Share on other sites More sharing options...
Reefton Posted January 27, 2019 Share Posted January 27, 2019 6 minutes ago, Mark D said: Plus he was heavily involved in racing administration - president of the WRC, on the RACE board, involved in NZTBA and as mentioned before on the Members Council of the NZTR - hardly equivalent to being a member of the local rugby club. If the NZTR was as interested in integrity as it proclaims itself to be he would be suspended from the Council. Rather the chair of that Council will likely do everything possible to diminish his actions because he is "one of the boys!". I agree re the Members Council but those things are full of people with a heap of letters after their name and nothing else to recommend them(from a racing perspective). And his racing interest - it is(apparently) not relevant to his wrong doing so why print it? Just think it is the Press dragging the racing industry into an affair that is nothing to do with them and inevitably staining whatever good name the industry might retain. 20 minutes ago, Mark D said: I very much doubt that I presume you are talking about he income in that comment? Well think about (1) the rates 'consultants' charge themselves out at and(2) the reduced overheads he would incur by not being a KPMG partner. Unless he was pushed(entirely possible - I don't know the guy so cannot comment) I imagine he will not have gone to the poor house after exiting KPMG. Very few of them do. Quote Link to comment Share on other sites More sharing options...
Mark D Posted January 27, 2019 Author Share Posted January 27, 2019 (edited) 1. They did a google search and that was came up. Nothing to do with any bias against the racing industry. 2. He was a business services partner at KPMG. He would have been on the lowest charge out rate for a partner and therefore profit share. 3. No one said he would be a pauper as you so quaintly put it. Yet from what I know/have heard about him you have greatly overestimated his earning potential. 4. Like most people he has skeletons in his closet - one of which is widely known and should have resulted in him being pushed - but did not. Edited January 27, 2019 by Mark D Quote Link to comment Share on other sites More sharing options...
Reefton Posted January 28, 2019 Share Posted January 28, 2019 (edited) 30 minutes ago, Mark D said: 1. They did a google search and that was came up. Nothing to do with any bias against the racing industry. 2. He was a business services partner at KPMG. He would have been on the lowest charge out rate for a partner and therefore profit share. 3. No one said he would be a pauper as you so quaintly put it. Yet from what I know/have heard about him you have greatly overestimated his earning potential. 4. Like most people he has skeletons in his closet - one of which is widely known and should have resulted in him being pushed - but did not. In regards his history you clearly know a lot more about him than me but if he was a partner in KPMG and a Chartered Accountant he will have been raking it in and will no doubt have continued to do so once he left. Did they flick him? Edited January 28, 2019 by Reefton Quote Link to comment Share on other sites More sharing options...
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