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(AUSTRALIA) ICAC Obeid Inc Report: The secret deals making the family millions: “I am satisfied that the objective seriousness of the conspiracy was one of the highest order.” Supreme Court Justice Elizabeth Fullerton #AceNewsDesk report

#AceNewsReport – Nov.07: The Obeids bought a family farm up in the Bylong Valley. They seem to have discovered that there was coal under the soil. And they set out to manipulate that… it was just like a windfall profit.” Former Counsel Assisting, NSW Independent Commission Against Corruption (ICAC)….

#AceDailyNews says according to a Four Corners Investigation Obeid Inc Report: Today, his name is a byword for corruption and abuse of office. Just over two weeks ago, he was sentenced to jail for a second time, after being found guilty alongside one of his sons of conspiring to rig a lucrative mining tender to benefit the family.

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Obeid Inc, reported by Angus Grigg, goes to air on Monday 8th November at 8.30pm. It is replayed on Tuesday 9th at 1.00pm and Wednesday 10th at 11.20pm. It can also be seen on ABC NEWS channel on Saturday at 8.10pm AEST, ABC iview and at abc.net.au/4corners.

“I am satisfied that the objective seriousness of the conspiracy was one of the highest order.” Supreme Court Justice Elizabeth Fullerton

The name Eddie Obeid once inspired fear. As a Labor factional boss, he was the ultimate backroom kingmaker.

“He didn’t want to talk, didn’t want to fraternise…To me, his business was done behind closed doors.” Former NSW MP

The corruption watchdog’s investigations into the Obeid dealings exposed the inner workings of the family business model.

“The Obeids operation is simple, straightforward, and it’s used over and over and over again…They love a little trustee, a discretionary trust in which these people who are cooperative agree to hold benefits on trust for the Obeid’s family.” Former Counsel Assisting, ICAC

But the story does not end with Eddie Obeid behind bars: A staggering $30 million dollars from that criminal deal is still in hands of Eddie Obeid and his family companies, and they owe millions more in court costs and unpaid taxes. On Monday, Four Corners reveals how business is still booming for the Obeids and funding their lavish lifestyle.

“They’re still in private schools, they’re still in luxury houses, they’re still living their affluent lifestyle. It doesn’t appear to have had any negative impact at all. As far as I can tell…it’s just business as usual.” Star witness

For months Four Corners has been on the financial trail and has uncovered secret business dealings which could reap the Obeids millions more.

“What if I told you the Obeid family, that is Eddie Obeid and his children are behind that?” Angus Grigg, reporter…..

#AceNewsDesk report …………….Published: Nov.07: 2021:

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By ace101

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