James Packer Testifies Before Royal Commission from Undisclosed Location

james__packer_testifies_before_royal_commission_from_undisclosed_locationIn a remote listening to that featured video testimony and spanned the day Friday from about 06: 30 till 15: 30, Australian billionaire James Packer told commissioners that he failed to lend a hand any board meetings of the company that oversaw Crown Perth between 2013 and 2016 – even supposing he was Chairman of the Board at Burswood Restricted in the center of that point.

Packer was accessible for testimony from an undisclosed discipline till about 10: 00.

The timeframe between 2013 and 2016 is of particular interest to the Commission as well to the Approved professional Fashioned of Western Australia because it coincides with the alleged laundering of hundreds of thousands and thousands of bucks by two companies; Riverbank Investments and Southbank, into accounts of Crown‘s casinos.

The listening to follows an inquiry from Commissioner Patricia Bergin earlier this 300 and sixty five days that states the 2 investment companies were “infiltrated and exploited by felony parts, doubtlessly alongside with international felony organisations” starting place as early as 2014.

Packer is the inclined director at Crown Hotels, having resigned in 2018. He is still the company’s majority shareholder and additionally chaired the Crown subsidiary, Burswood which oversaw the Perth on line casino’s operations from 2004 till 2016.

Packer says he ‘Have to still Have Resigned’

After admitting to Commissioners that Burswood “suffered” without an engaged chairman for 3 years, Packer told them: “There might well be rarely always a query I could well well well also still have attended or resigned… I did neither”.

Further questioning addressed a time in 2014 that ANZ shut down the accounts of Riverbank Investments due to suspicions of money laundering.

After just a few objections from Packer’s counsel, Commissioner Patricia Cahill at closing posed a query about “conserving an seek for on” Burswood in the center of that point, to which Packer spoke back: “Properly, I was conserving an seek for on Burswood Restricted, either — I — I, accept — I accept that I could well well well also still have resigned or lend a hand; I accept that entirely. I manufacture now not accept that I failed to halt on prime of what was going down at Burswood Restricted.

Packer additionally acknowledged that he didn’t deem someone on the Burswood board had any financial crime possibility or anti-money laundering skills, however that he additionally didn’t deem that money laundering had passed off, declaring: “Wanting assist there are many oversights, issues that must had been executed otherwise. I failed to deem at that level in time that Crown Perth was engaged in money laundering.

Crown has been beneath rising scrutiny with a Victorian inquiry suggesting that Crown had been interested in “illegal, dishonest, unethical and exploitative” activities or behavior.

In step with diversified media reviews, the WA Commission is expected to command a last story on the topic in early 2022.

Machines Trot Faster in Melbourne

One other item of interest that emerged in the video interview with Packer making a rare public appearance from an undisclosed discipline follows:

COMMISSIONER JENKINS: What manufacture you realize because the variation between

the electronic gaming machines at every of the properties that forms the muse for that

witness you expressed?

MR PACKER: I hang the wheels proceed sooner in Melbourne, and that steadily is the

most well-known distinction.

COMMISSIONER JENKINS: Thank you for that.

MR PACKER: I was appropriate going to bid, which implies that a machine in Melbourne

might well well well also generate more income per day than a machine in Perth, even in the occasion that they are both



Perth On line casino Royal Commission Listening to Day 51, Australian Government, October 29, 2021