Australia’s best known tax cheat Kerry Stokes is allegedly covering up an $8 million fraud at Seven West Media in WA by long-time Chief Financial Officer Mark Shelton who left the company in December 2016. At the same time Seven West Media’s West Australian boss, Chris Wharton, has allegedly been shown the door although he claims he is on holidays.
“Stokes has wheeled in EY audit partner Philip Teale to fill the breach, which has tongues wagging on the terrace. What’s the auditor looking for?” (Read more)
I am reliably told:
Mark Shelton ripped off $8 million over the past 14 years by sending in fake invoices as he’s the guy that approves them for payment. Seven are apparently getting a big whack back by freezing his assets.
It makes one wonder why Stokes never calls the police when there is major fraud at Seven. Only last year it was reported:
“The Seven Network has confirmed it has taken urgent legal action against a senior employee who has admitted to defrauding the company by falsifying invoices.”
“The broadcaster sought and won an injunction to freeze the assets of John Michael Fitzgerald in the NSW Supreme Court on Monday.” (Read more)
The false invoice scam seems to be going on across the whole company yet Stokes never goes to the police.
One reason for Kerry Stokes not going to the police is probably because they have too much evidence of Stokes’ corrupt tax dodging scams and other criminal activity. Maybe they also have evidence of the fraud and theft committed by CEO Tim Worner and his women and cocaine which would embarrass Kerry Stokes.
Shareholders should be asking why Kerry Stokes and Seven West Media have not issued a public statement on the issue given the rumour is all over Perth and the internet.