"I haven't worked for almost any govt system or simply once experienced official employment with a community organization in PNG."

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The organization officer answerable for having the positions was McNamara, who told the court he experienced had unjustifiable confidence during the toughness of your Australian economy.

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"If I had the advantage of hindsight with the time I would've taken reverse positions and been hailed to be a hero," McNamara said. "Inside the functions which took place my self esteem during the toughness of your Australian economy and its markets wasn't justified And that i shed my consumer income.

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And an organization they directed also paid out many Many pounds in a referral or introduction fee to some former PNG prime minister's son in relationship with receiving the offer to invest the funds.

Mr Danger also alleged that Woodlawn's trading strategy was "not among proficient or thorough trader" particularly in gentle on the detrimental economic news in the time.

He also observed that Woodland Money experienced engaged in "deceptive perform" since it didn't have an suitable economical services management licence when it absolutely was handling The cash.

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Two Sydney income managers have demanded about $23 million in costs for 2 many years get the job done investing Papua New Guinea taxpayer funds, a number of which dropped in benefit by about $ten million.