Senate Inquiry Hears Cattle Duffing Allegations
AUSTRALIA - A Senate hearing has heard allegations of cattle duffing on one of Australia's largest managed investment scheme projects.
1 September 2009
1 minute read
According to ABC, Janette Townshend, a Melbourne financial planner, has appeared as a witness before the Senate Select committee investigting MIS schemes.
She says the Great Southern cattle project meant investors leased a herd of cattle with the progeny owned by the investor.
But when the investors received what she described as a "measly return", concerns were raised about how the cattle were tagged and identified.
"We had a few mystery callers tell us all sorts of things were going on," she said.
"Tags were being removed off the cattle, were being swiped through several times.
"The cattle in some casses didn't have to be there.
"We had another caller ring up and said there were a lot of NLIS tags going down Moola Boola, in three different wells."
