Archive for March 11, 2012

EYE-BALL’s Human Evil Exposed – John O’Neill (CEO-ARU) … Part 13 – The SBS AGM – 22nd Aug 1988.

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Human Evil Exposed –
John O’Neill (CEO-ARU) … Part 13

Link to all Posted Chapters for –

“Human Evil Exposed – John O’Neill (CEO-ARU)” – The SBS Story

The “Human Evil Exposed” – John O’Neill story link above takes you to a new page where all the chapters to this story are listed and linked.

All the documents that form a part of this story as evidence is linked here. These documents form the evidentiary trail collected as a part of the research undertaken during this project.

The “Human Evil Exposed” – John O’Neill story thus far covers events that took place between 1931 – 1995. The final ending is still to be played out. The motives for what took place in the late 70’s and early 80’s happened in 1931 when the then NSW Government owned – ‘Government Savings Bank of NSW’ was forced to close its doors. This set in motion a number of events that were not resolved until Dec 1987. The motives behind this story are steep in history and these grudges were held for a long time.

After they were finally settled – what then took place culminated in a $75 million FRAUD of public monies carried out by the NSW Government(NSWG) and its agent – The State Bank of NSW – (SBNSW) in 1988.

The players involved and connected with this FRAUD include:

  • Three consecutive NSW Premiers, Wran, Unsworth and Greiner,
  • Several Ministers serving in those Governments and their staffers – one of these Ministers is now a Justice with the NSW Land and Environment Court,
  • Regulatory Departments including the Department of Co-Operatives, Office of Business and Consumer Affairs, and the Australian Association of Permanent Building Societies, (AAPBS) and,
  • Employed State Bank of NSW Executives – the MD was John O’Neill – who all acted in proven ‘conflict of interest’ positions as Directors on the State Building Society Board, and whose intent was to facilitate a FRAUD against the 270,000 SBS members.

It’s a story that crushed the second largest NSW Building Society and at the time it had $1.6 billion in assets, some 270,000 Society members, and 650 SBS staff.

This is a story told by someone who lived through the 87-88 period and is told from his perspective and the evidentiary proof collected from research undertaken to prove the allegations. This story comes from a corrupted base of Corporate greed, corrupt and immoral Director’s, complicit Government representative’s, ego’s driven by historical flawed motive’s, financial market operative’s, drugs, sex, and the brazen Corporate RAPE and THEFT of the $75 million value attached to the State Building Society.

John O’Neill as the MD of the SBNSW destroyed a profitable and functioning Building Society because he could. It was done out of spite and revenge because he lost the 10 year plan to merge the SBS with the SBNSW. In the process he stripped the SBS of its corporate worth and broke all the Corporate and Regulatory rules in doing so. Rules that were put aside by the Administrators charged with the protection of the SBS members and their entitlements. He had help in the NSW Premier Nick Greiner who sanctioned O’Neill’s actions.

The story has many sub-plots and plots within those sub-plots – it is complicated, and to get a full appreciation of these complexities there is much reading to be done.

Please use the comments option below each post for any comments you might want to express – to ask any questions you want clarified – or if you want to make a private comment … please use the e-mail link here – – Enjoy the read …

The EYE-BALL Opinion … [ … where evil lurks – so do friends of the devil … ]

Definitions of Allegations alleged against Mr John O’Neill and his cohorts …

Linked: The Definition of EVIL:

  • morally wrong or bad; immoral; wicked: evil deeds; an evil life.
  • harmful; injurious: evil laws.
  • characterized or accompanied by misfortune or suffering; unfortunate; disastrous: to be fallen on evil days.
  • due to actual or imputed bad conduct or character: an evil reputation.
  • marked by anger, irritability, irascibility, etc.: He is known for his evil disposition.

Linked: Moral Bankruptcy:

  • Definition: the state of being devoid of morality and ethics, used esp. for business and political entities
  • Example: A complete lack of morals is moral bankruptcy.

Linked: Definition of RABID:

  • – irrationally extreme in opinion or practice:
  • – furious or raging; violently intense:
  • Synonyms – zealous, fervent, ardent, fanatical, bigoted.

Linked: Definition of FRAUD:

  • – deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage.
  • – a particular instance of such deceit or trickery: mail fraud; election frauds.
  • any deception, trickery, or humbug: That diet book is a fraud and a waste of time.
  • a person who makes deceitful pretenses; sham; poseur.


Part 13 commences … The SBS AGM 22nd Aug 1988 …

In the days leading into the 22nd Aug SBS AGM – the SBNSW had made preparations to quash any resistance and to make for a smooth transition.   That plan was meticulous and is further set out below:

[You can use the in-page links below to navigate up and down the page – return links back to menu provided.]

  1. Time line of events thus far –
  2. The PR Media Campaign …
  3. Key Personnel Administrative Leave …
  4. Independent Directors Remunerations …
  5. Proxy Arrangements …
  6. The Regulatory Capitulation … 
  7. The Media Responses to the SBS AGM …


Timeline of events thus far and since O’Neill’s appointment:

In the period since O’Neill had taken over the SBNSW in July ’87 – his rap sheet of acheivements read as follows: [you will note that there are no real positives or good stories – only examples of his corrupted responses to market pressures.]

  1. O’Neill and SBNSW lose control of the SBS Board at the Aug ’87 AGM when Bruce Treloar was voted in as a Director to get rid of Mr Knowles – a former SBNSW employee and SBS GM voting as an Independent Director but still a SBNSW stooge on the SBS Board.
  2. SBNSW Treasurer resigns amid all sorts of power dealings – most of the SBNSW staff believed O’Neill is unqualified for the MD position – other SBNSW staff were overlooked for the position and this caused division within the SBNSW ranks. A number of other Treasury staff had also left as well. [see below for SMH story of SBNSW Treasury Departures …]

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| Author: Edited by Glenn Burge | Date: 21/09/1987 | Publication: Sydney Morning Herald | Section: Business | Regular Shorts | Page: 29 |

THE exodus from the State Bank of NSW’s treasury division has continued with the departure of David Hulme, who will leave his post soon as general manager of the treasury operations after less than 12 months in the job.

Hulme’s replacement, announced yesterday, is the highly respected Phil Gray, who will take up a newly created post as group treasurer.

CBD had heard a few rumours recently that Hulme had decided to leave, with speculation that headhunters were seeking a suitably qualified candidate. Phil’s credentials apparently were considered perfect for the position.

Before his appointment, Phil was an executive director and treasurer of the Australian Bank, so CBD assumes the State Bank opened its cheque book sufficiently to entice him away to join top teller John O’Neil.

In his well-rounded career, the 35-year-old Phil before the Australian Bank had a stint in treasury at the Commonwealth Bank, where he attained the post of Australian manager, money markets and futures operations.

The former top teller at the State Bank and son of a famous dad, Nick Whitlam would be no doubt disappointed with Hulme’s decision.

Nick hand picked Hulme from the Wheat Board for the job of assistant general-manager of treasury under Vic Danko last October, after an exhaustive search.

The publicity-shy Whitlam indicated at the time of the appointment, however, that Hulme would take over as general-manager sometime in 1987, although his elevation came a bit earlier than expected, when Vic quit in December.

Given the spate of departures from the treasury operations in the past 12 months, with about 20 staff leaving due to the bank’s bureaucracy and low morale, O’Neil will be delighted for Phil to restore some stability in the operation.

  1. O’Neill appoints new State Bank Treasurer in Phil Gray (Sept ’87) –
  2. Oct ’87 crash hits and SBNSW reels from the after shocks – the Bank’s financial position deteriorates badly and profitability abruptly turns negative – recent large ticket Sydney CBD property deals to high-flyer entrepreneurs begin to turn sour …
  3. SBNSW receives the final $200 million court ordered settlement payment from the Commonwealth Savings Bank in Dec ’87 – this gives O’Neill some breathing space over Oct ’87 crash issues – but as the losses continue to mount the pressure is still on –

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| Author: By PAUL CLEARY | Date: 16/10/1987 | Publication: Sydney Morning Herald | Section: Business | Page: 40 |

The State Bank of NSW moved a step closer to its goal of operating as a savings bank yesterday when it was revealed that the bank and the Commonwealth Banking Corporation will negotiate a settlement on their prolonged court battle.

The court battle has been running since 1981. Its settlement will allow the two banks to terminate a 1931 agreement that prevented the State Bank from operating a savings bank. In return, the State Bank received half the Commonwealth Bank’s NSW savings bank profit.

The State Bank’s managing director Mr John O’Neill said yesterday the Federal Government and the NSW Government had recommended that discussions begin on “negotiating a settlement”. He said the discussions would include representatives from both banks and both governments.

Mr O’Neill said the State Bank had recovered most of the profit payments which the Commonwealth Bank had refused to make. He said the State Bank had been paid $129 million, although some interest payments and damages were still owing.

Mr O’Neill said that once the dispute over payments was settled through the negotiations, both parties would move to end the profit-sharing agreement. “We both want it (the agreement) terminated. The State Bank sees that would be the most suitable agreement. The question is the amount (to be paid in a settlement). The Commonwealth Bank say they want it settled for nothing,” he said. The Commonwealth Bank would not comment.

It is understood that the legal fees have cost each party $2 million.

The court battle was centred on the State Bank’s alleged control of the State Building Society. The State Bank owns all the society’s fixed capital shares, and has four directors on its nine-man board.

It is understood the State Bank would like to merge with the building society once the 1931 agreement is terminated, using the society as the basis of a savings bank. The State Bank has indicated a merger is an option, but this would need the approval of society members and the board.

Mr O’Neill said the immediate consideration after the agreement was terminated would be to expand its existing retail banking operation. He said the agreement prevented the State Bank from competing for funds because it could not offer higher deposit rates than the Commonwealth Bank.

… and another SMH article …

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| Author: By IAN VERRENDER | Date: 23/12/1987 | Publication: Sydney Morning Herald | Section: Business | Page: 20 |

The Commonwealth Bank of Australia and the State Bank of NSW have terminated a 1931 agreement that prohibited the State Bank from operating as a savings bank.

The agreement had been the root of a six-year legal battle between the two organisations.

After several months of intense wrangling between the two banks and State and Commonwealth Government representatives, the two parties have agreed to an out-of-court settlement.

Although both parties yesterday refused to reveal the terms of the settlement, insiders believe the Commonwealth has made a sizable payment to the State Bank, which in May demanded a $200 million payment. The Commonwealth wanted the dispute settled for nothing.

The new arrangement will have significant benefits to both banks, as it will allow the State Bank to expand its retail operations and will remove legal obligations on the Commonwealth to pay half its NSW savings bank profits to the State Bank.

In a two-sentence statement yesterday, Commonwealth managing director Mr Don Sanders and State Bank managing-director Mr John O’Neill said all litigation between the parties over the 1931 agreement to amalgamate savings banks had been settled.

“We are pleased that this dispute has been resolved satisfactorily,” they said.

The State Bank had the upper hand in the long and complex legal dispute, and earlier this year received awards totalling $129.6 million in interest and compensation for payments not received between the years 1981-82 and 1985-86.

The dispute in the Federal Court of Australia, the Supreme Court of NSW and the High Court of Australia are estimated to have cost both parties about $2 million in legal fees.

The feud erupted in 1981 when the Commonwealth Bank refused to honour the 1931 profit-sharing agreement because, it argued, the State Bank had been operating as a savings bank after it acquired the State Building Society.

With the agreement set aside, the State Bank is expected to expand its retail network of 270 branches, and may merge the State Building Society operations into its own network; a move that would require the approval of building society members and the board.

The State Bank was shackled by the 1931 agreement, instituted at the height of the Great Depression, because it was prevented from full access to a wide deposit base.

Trading banks are not allowed to offer low deposit rate savings bank facilities, which effectively eliminates them from the retail lending market.

The State Bank earned $52.2 million in the recent financial year, only a 1.1 per cent rise from the previous corresponding period, as a rise in bad debts and the rural crisis affected earnings.

The Commonwealth Bank posted a 32 per cent slump in net profit to $197.2 million in the June year, as increased competition, higher tax rates and a sharp rise in bad debt provisions hit earnings.

  1. Jan ’88 – O’Neill’s focus turns to the SBS after the 1931 Agreement is rescinded in Dec ’87 –
  2. Jan ’88 SBS Board meeting – O’Neill informs SBS Board of merger agenda with SBNSW – SBS Board approves the request for a Macquarie Bank report on the SBS’s future.
  3. Mar ’88 – NSW Election results confirm Greiner as the New Premier in a minority Government – ousting Premier Unsworth who had advised O’Neill that he would not support or allow a merger between the SBNSW and SBS.
  4. SBNSW begin to count the financial cost of the Oct ’87 crash as property deals start to go sour – speculation on the Banks financial position begin to circulate within the market – O’Neill reluctant to go to the NSW Government asking for capital injection to offset the book value losses.
  5. Late Mar ’88 – O’Neill approaches new Premier Greiner to secure his support for a merger between the SBNSW and SBS – Greiner supports the merger after O’Neill outlines his game plan. Greiner signs off on O’Neill’s plan.
  6. SBS Treasury Audit Report requested by O’Neill with an implied agenda to discredit the SBS Management over the extremes of the SBS Treasury profitability –
  7. Apr ’88 – new SBNSW Treasurer Phil Gray complies SBS Treasury report and claims ignorance of O’Neill’s agenda … SBS Treasurer sent on Administrative leave during the Audit and for the rest of Apr ’88 – the SBS Treasurer never consulted as a part of the SBS Treasury Audit –
  8. Late Apr ’88 – O’Neill seeks Independent SBS Board vote to secure numbers to stage a SBS Boardroom coup – late Apt ’88
  9. 5th May ‘ 88 Board room coup happens with the SBS GM Denis Cleary sacked – but not before SBS Chairman Ken Dennewald is also dismissed by the SBNSW Chairman – Reg Watson before SBS Board meeting commences.
  10. During Board meeting O’Neill appoints himself as SBS Chairman – and the first and only order of business is to announce ‘merger discussions’ to begin and this is announced to all SBS staff and members the same afternoon.
  11. Mid May ’88 – New Co-Operatives Minister – Gerry Peacocke weighs in on the SBS side stating – ‘conflict of interest’ issues are involved in the SBNSW’s move against the SBS. Legal opinions are sought and support the ‘conflict of interest’ position.
  12. Claim made by Independent Director that SBNSW plans to ‘strip’ SBS of assets – [see media story below:]

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| Author: By PAUL CLEARY, Banking Writer | Date: 12/05/88 | Publication: Sydney Morning Herald | Section: Business | Page: 27 |

State Building Society independent director Mr Bruce Treloar has condemned the State Bank’s takeover of the society, charging that the bank is using its 1 per cent shareholding to “asset strip” its target.

His comments, in a statement released yesterday, come as investigations by Mr Gerry Peacocke, the minister responsible for co-operative societies, continue into the takeover.

“The State Building Society is not a subsidiary of the State Bank, which holds less than 1 per cent of its shares,” Mr Treloar said. “Ninety-nine per cent of the shares are held by the society’s members.”

He said also that the State Bank was interested in other building societies, including the Greater Newcastle, Newcastle and Illawarra Mutual societies. He said the bank appeared to be “pressing the Government to ease its path to allow it to gobble up all building societies in NSW”.

Mr Peacocke is investigating the relationship between the bank and the building society, particularly a possible conflict of interest by the State Bank-appointed directors to the society.

The Premier, Mr Nick Greiner, however, is supporting the merger to increase the value of the bank ahead of its possible privatisation.
Mr Treloar said there was no consultation with shareholders because the bank wanted to “grab its (the society’s) assets for the lowest possible price”.

Mr Treloar, elected to the board last year on an independent ticket, is one of eight directors. While it is understood the three other independent directors are opposed to the takeover, Mr Treloar is the only one to have spoken out.

The State Bank controls the board with its four directors, including a chairman with the deciding vote.

Mr Treloar’s links with the building society and the State Bank go back to 1976. He owned 51 per cent of the fixed shares in the Rural Building and Investment Society, and sold to the State Bank in 1982.

The origins of the State Bank’s $3 million controlling stake in the society- the 1 per cent share Mr Treloar referred to – follow the bank’s buying of all the fixed share capital in the Tamworth-based building society.

He said the Government should move immediately to remove all State Bank appointees from the board of the society and instruct the bank, which the Government controlled, to withdraw its bid.

“This is nationalisation of people’s savings on a massive scale. If other bids are made for the society it will be impossible for the board to impartially advise shareholders on their benefits when the society’s board is dominated by representatives of the State Bank, itself a bidder,” he said.

  1. Co-Operatives Minister Peacocke submits new amendment bill to parliament with intent to prevent the merger between the SBNSW and SBS – Premier Greiner seeks Attorney General’s opinion – [response date – 25th May] – and is advised that the Minister’s bill will prevent a merger – Greiner is forced to back down on the merger – but stops short of admitting this publicly … this rear guard response was unexpected by both Greiner and O’Neill … see story below …

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| Author: By PAUL CLEARY, Banking Writer | Date: 15/05/88 | Publication: Sydney Morning Herald | Section: Business | Page: 33 |

In its merger with the State Building Society, the State Bank of NSW intends to sidestep tough legislative measures introduced in 1986 for the conversion and acquisition of building societies.

By avoiding the legislative guidelines, introduced after the United Permanent merger in 1986, it will be far easier for the bank to have the proposed merger approved by shareholders.

The proposal effectively could be passed by a handful of shareholders at a special general meeting, paying homage only to the society’s articles of association.

The managing director of the State Bank and chairman of the society, Mr John O’Neill, told a press conference that he believed the bank would not need to follow the new measures, because it was a statutory authority.

Under present guidelines for mergers and conversions of building societies, approval from shareholders would be have to be sought by sending postal votes to all of the society’s 250,000 shareholders. It would need a 20 per cent response for the vote to be valid, and 75 per cent approval by those who respond.

The tactic will surprise authorities overseeing the takeover, including the Registrar of Co-operative Societies, who had earlier said the bank would have to follow the new legislation.

The bank’s intention to sidestep the legislation will not upset the NSW Government. Mr O’Neill said: “My conversations with the Premier (Mr Greiner) indicate no opposition by the Government to the proposals.” He said that Mr Greiner believed the Government’s support was “unanimous”.
The State Bank generally follows the spirit of legislation, which it is not bound to follow.

A State Bank director of the society, Mr Paul Kearns, said at the press conference that while the bank had to “pay homage” to shareholders, the uncommon shareholding structure of the building society meant the society’s shareholders were more like “depositors” in a bank.

The State Building Society is one of two which have fixed share capital in addition to withdrawable capital (ie: deposits). Other building societies have only withdrawable shares, so that the society is governed entirely by depositors.

The bank’s $3 million investment in the $1.4 billion society, via its ownership of all its fixed share capital, gives it control over the society’s board.

Mr O’Neill attacked comments by an independent director of the society, Mr Bruce Treloar, who has made a series of claims about the merger. Mr O’Neill said Mr Treloar “astounds me”, adding that he voted in favour of the merger discussions at the last board meeting.

  1. It is also realised by the Co-operatives Dept that the State Bank Act has not been amended since the 1931 Agreement rescindment – thus meaning that the SBNSW cannot operate a Savings Bank and any merger with the SBS would be in contravention of the State Bank Act – this oversight was never disclosed publicly – one can understand why …
  2. This information is advised to O’Neill in a on-on-one meeting by a Co-Operatives staffer – O’Neill loses his cool and pleads for the required Amendment to be drafted and put before Parliament to facilitate the merger – O’Neill advised it can’t be done because the parliament has risen for the winter recess.
  3. The SBNSW merger agenda is dead in the water – 10 years of work by others all wasted on O’Neill’s error … hubris breeds contempt and sloppy management
  4. O’Neill’s realisation that he stuffed up his own merger agenda before the game began motivates a ‘get-even’ plan … this Legislation amendment was massive incompetence on O’Neill’s part – yet he was never exposed nor ever bought to account for his mistake –
  5. Late May ’88 – Rather than accept defeat – O’Neill begins to seek an alternative plan to strip the SBS of its market value – secret negotiations begin with St George Building Society after they approached the Government and advised their interest in the SBS –
  6. Greiner approves discussions and SBNSW and St George begin negotiations – the Co-Operatives Minister is not informed – there was no due diligence undertaken by any independent party to determine the SBS market value before these negotiations began – O’Neill’s ‘conflict of interest’ position and fear of his incompetence exposure forces his hand –
  7. An ‘in Principal deal’ is done with St George early June ’88 on the proviso that the SBS members vote their approval for a ‘transfer of engagements’ –
  8. The deal still secret and the SBNSW begin to engage with the Co-Operatives over the ‘conflict of interest’ issue and merger between SBNSW and SBS as mis-direction to cover the St George deal –
  9. Other suitors courting the SBS are summarily dismissed because the deal with St George is already signed … this was ‘criminal intent’ – the SBS members were frozen out of these deals because the SBNSW controlled the SBS Board and their ‘conflict of interest’ and complicity to defraud the SBS members is proven by the outcome –
  10. O’Neill is asked to show cause to the AAPBS (Australian Association of Permanent Building Societies) Advisory Committee as to why O’Neill should not be dismissed from the SBS Chairmanship position over his ‘conflict of interest’ position arising from ‘dual’ Directorships with SBNSW and SBS –
  11. June ’88 – O’Neill is happy to engage and prolong the ‘show cause’ agenda as mis-direction whilst still serving as SBS Chairman and overseeing St George deal – still all a secret from the Co-Operatives and SBS staff and members.
  12. Mid June ‘988 – SBS announces massive increase in yearly operating profit – largely due to SBS Treasury performance – Profit announced as $20 million as compared with previous year of $1.5 million.
  13. A $5 million provision is also made – these funds go missing in the final wash up of the merger with St George in Aug ’87.  Where these funds went is still an unknown – but given the need for O’Neill to purchase and win favour to achieve his agenda – it is not hard to imagine what these funds might have been used for.
  14. Late June ’88 – Advisory Committee meet and vote to boot O’Neill form SBS Board – his resignation delayed until early July ’88 and Paul Kearns is appointed as new Chairman at 22nd July SBS Board meeting – some 2.5 months after the ‘conflict of interest’ issue was first raised by the Co-Operatives Minister.
  15. Late July ’88 – loyal SBS Management staff sent on administrative leave as ‘transfer of engagements’ to St George countdown begins –
  16. Early Aug ’88 – SBNSW PR media campaign begins – SBS branches told to canvass ‘proxy votes’ – in an internal memo to all staff …
  17. Co-Operatives Dept formally advised for first time of merger with St George by new SBS Chairman
  18. Co-Operatives Minister – Gerry Peacocke receives a personal request from Premier Greiner to withdraw the ‘Takeover Review Committee’s’ legislative requirement to investigate any merger on behalf of the SBS members –
  19. Letter requesting approval for the merger is given by Co-Operatives Dept 14 days before the SBS AGM meeting – letter signed by Deputy Registrar on behalf of the Registrar – Minister and Registrarwhose name appears on the approval letter but do not sign the approval letter –
  20. 22nd Aug ’88 – SBS AGM meeting and motion for the merger is approved – see below for more details on this as reported by the media.
  21. 25th Aug – file letter that is unsigned, on non letterhead paper, and only dated by file reference – proves that Minister Peacocke did not sign off on this merger in response to Premier Greiner’s personal plea … this was never investigated – and as the SBNSW received their $75 million – and the SBS members were sold down the tube and forced into a merger they did not want – O’Neill saved his bacon for a while and pulled off the greatest theft of public monies in NSW history – all with the sanction of an equally guilty Premier Greiner and his Department.
  22. This crime has gone unreported and buried for 24 years – and is only very small part of the legacy of debt John O’Neill left upon the NSW taxpayers …

Evidence confirming this time line of events and the power plays involved have been presented in past uploads 1-12 – what continues hereto is the final chapter in the demise of the SBS, its Management team, and the rightful entitlements due to the SBS members ripped apart by O’Neill and his evil lust to protect his own career.   The final chapter leading into the 22nd Aug ’88 SBS AGM begins  …

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The PR Media Campaign:

Click on the Newspaper image below to enlarge and read in a separate window the lead story in the SMH Business section published on the 16th Aug 1988.

This was the beginning of the SBNSW’s PR media campaign to discredit the previous SBS Management over the SBS Treasury operations in the lead up to the SBS AGM, and membership vote on the ‘transfer of engagements’ to St George Building Society.  O’Neill was using his fraudulent constructured ‘Treasury Audit report’ and using it to manipulate public opinion in support of a ‘Government Sanctioned theft’ to suit his own needs and wants.

Those ‘need’s were the value attached to the $60 million of SBS reserves and the ‘goodwill value’ St George were prepared to pay  – his ‘wants’ were to save his own Bank from the ravages of the aftermath of the Oct ’87 crash, and his own career flashing before his eyes.  This was m otive enough for him to risk everything.

This ‘slanderous’ newspaper article full of false accusations offered up by O’Neill and his partners in crime – served its purpose.  There was no right of reply asked for by the Newspaper owners – just the telling of a corrupted story by eager publishers wanting a headline.  [Click on the image to open in a separate window and enlarge.]

[Click here to read the rest of story – also in a separate window –]

This leak of information to the Sydney Morning Herald was pure ‘spite’ on O’Neill’s part – he was a man under immense pressure when he did this.  His Bank was tinkering on insolvency – he inherited the SBS end-game from his predecessor Nick Whitlam and had fumbled the ball badly with the responsibility.  This had been a 10 year plan and had gone to script until O’Neill took over.

The SMH newspaper story above emanated from the ‘SBS Treasury Audit Report’ conducted by the SBNSW Treasurer Phil Gray on the SBS Treasury in April ’88.  The headline used in the newspaper story – “State Bank Treasurer slams society over Risks” – arose from the context of that Audit Report designed to tarnish the creditability of the SBS Management.   It was leaked with direct intent and purpose to sway the SBS members against the previous SBS Management.  The headline was slanderously false, inaccurate and completely mis-leading.

It was career ruination and O’Neill was hell-bent on ‘crapping’ all over careers of SBS staff.  This is proof positive of the ‘evil’ with John O’Neill.   He was not just content to take the $25 million spoils the SBS Treasury had created – he refused to honour a previous management ‘Treasury Bonus Pool’ agreed to – he put those funds back int the SBS reserves and further inflated the St George price tag to directly benefit the SBNSW asking price.

The SBNSW Treasurer’s report that this media story ran on was highlighted in Part 6 of this expose – [linked here] – It has been proven to be full of baseless assertions and accusations where no right of reply was allowed.   O’Neill’s and his Treasurer who conducted the audit – used the report to stage a Board room coup that returned control back to the State Bank.  This media story did untold damage to the creditability of the SBS Management and to the SBS Treasurer in particular.

O’Neill gave no thought to what harm and damage his media campaign would do – in fact is was premeditated and deliberate – he was only interested in end result which all hinged on getting the best possible value for the fixed capital own by the SBNSW.   Money O’Neill needed to help bail out his own Bank facing challenges bought on by his decisions prior to, and in the aftermath of the Oct ’87 global equities crash.

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Key Personnel sent on Administrative Leave:

The SBS caretaker GM – Tony Howarth – and serving in that role since Cleary’s dismissal in early May – was acting under instruction from O’Neill when he sent the SBS Treasurer on Administrative leave for near two weeks at the end of July – [click here to read the letter sent to the SBS Treasurer by the caretaker SBS GM Tony Howarth – opens in a new window.]  

What was O’Neill’s purpose in sending the SBS Treasurer on leave?

Tensions were high as the SBS staff rebelled against all things SBNSW – the intent was to prevent any devaluation in the SBS’s liquids – in other words – the SBNSW feared sabotage – in that the SBS Treasurer would create deliberate losses in the SBS Liquids portfolio.

It was insultive to think this – and given what the SBS Treasurer had created as a Treasury operation in the time he had been there – and having his and his staff’s promised bonuses gazumped by O’Neill – this was a final humiliation the SBS Treasurer had to endure.

The SBS Deputy General Manager – Len Thompson was also sent on Administrative leave shortly after the May 5th Boardroom coup – he was away for almost two months …

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Independent Directors Favour:

The SBNSW Management had already swayed SBS Independent Director Alwyn Thomas – O’Neill needed his vote to regain control of the SBS Board at the 5th May meeting where he staged his coup – among Mr Thomas’s rewards was a Board seat on the St George Board after the ‘transfer of engagements’.

It was not just Thomas who spoke in support at the SBS AGM – the holdouts Treloar, Osmond and Cribb did not speak against the motion – Treloar and Cribb and were paid $12,000 Directors remuneration fees for the loss of their position – Osmond was to receive a St George Director appointment as was Thomas.

Somehow the SBNSW managed to get the three holdouts – Messes Cribb, Treloar, and Osmond on-side to hold their tongue against the merger.   According to media reporting on the AGM meeting – none of these spoke on the motion before the meeting.

O’Neill had though of compensating everybody who stood in his way.  Documents are held confirming the Department Co-Operatives confirmed the approval of the Director payments –

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Letter to SBS Staff Re St George including Proxies arrangements:

The SBNSW caretaker SBS Management had instructed the SBS branch staff to try and obtain SBS members proxies in support for the merger when they came into the branches to transact business.

The caretaker Management sent a letter to this effect to all Branches on the 5th Aug 1988.  That letter appears below – the ‘proxies’ are covered on page 1:

The SBS GM letter to SBS Staff – 5th Aug ’88:

Page 1:

Page 2:

Page 3:


This letter was signed by the Deputy GM Len Thompson – now returned from Administration Leave – and as can be understood – Mr Thompson was in a difficult position.  The deal was already done – what could he now do to prevent the merger?

Given Mr Thompson’s length of service with the SBS and the former Tamworth Building and Investment Society from the mid 70’s – and the entity that the SBS was formed from – Mr Thompson had almost 15 years invested in the SBS.  He even owned shares in the original TBPS.  To now sign a document to formally acknowledge his acceptance of a merger he had fought against for so long during late ’87 and up until the May 5th ’88 SBS Board meeting – signing this letter had to be worse than swallowing razor blades.

It would be interesting to hear Mr Thompson’s side of this story … he went on to work for St George until the early 1990’s – resigning as a General Manager of Retail Operations.  He has never worked again in any paid employ according to a web story that can be read here.

The other signature is the SBNSW ‘caretaker’ GM Tony Howarth – appointed after Cleary’s dismissal at the 5th May Board meeting – and now residing in Perth and the Chairman since 2006 of a Public Listed Company called ‘Mermaid Marine Australia Ltd’ – he was the CEO from 2001 – and has served on several Boards during his career.  His profile can be read here.

Mr Howarth has assisted with the research undertaken on this project – in one of his e-mail responses he acknowledged that – ‘SBS staff got screwed’ – his reference was referring to the SBS Treasury Bonus Pool payments to all SBS staff he was informed about when he took over the SBS.  He was John O’Neill’s puppet in the position and was acting under instructions.

Recent messages and attempts to contact Mr Howarth in Perth since this expose has been published – have gone unanswered.

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The Regulatory Capitulation:

The merger could not go ahead until the Minister had signed off on the Takeover Review Committee’s involvement.   Greiner’s letter to the Minister (Peacocke) dated 5th Aug and included in Part 12 – linked here – was Greiner’s helping hand to get the SBNSW over the line.   Peacocke’s non response nor the Registrar’s was a problem discovered after the 22nd August AGM was held.  The Ministers approval had not been given.

O’Neill and Greiner or someone on their staff somehow arranged for the Deputy Registrar to sign submission/approval letters dated 12th Aug to confirm the ‘transfer of engagements’ – linked to document here.

Where Minister Peacocke and Registrar Baker were during this period is still a mystery.  As presented in Part 12 – linked here – the letter from the Minister was not on Department Letterhead – was not signed – and was undated other that a file reference that includes the date measure – “88/25-08”.  This was completely inadequate given the $1.6 billion SBS was at stake on the say so of this letter.

A 60 odd minute discussion with Mr Windt – the Deputy Registrar a few weeks ago shed no light on the matter – he had no comment to make about the documents sent to him and he was asked direct questions.  On these matters he had no recollection – yet on other unrelated matters he had significant recall of events – i.e he retold the story of why Minister Peacocke sacked him at a later date – he told of his involvement in several matters after this event – and gave over a story that at the time this went down the Department was in a complete mess because of the amalgamation of several other Departments in the early period of Greiner’s Premiership.

He told of a special SBS folder that had a great deal of correspondence mostly signed by the previous Registrar Mr David Horton who served during the formation and amalgamation of the three Building Societies to from the SBS.   His recall was interesting – remembering specifics all around the specific question – but nothing relating to why he signed the most important documents and under the cloud of a Takeover Review committee having been formed but not engaged to oversee the SBS/St George merger.

This was despite all the legal advice held advising the Dept of the ongoing ‘conflict of interest’ positions of the SBNSW appointed SBS Directors.

From the May 5th Boardroom coup onwards, the SBNSW appointed SBS Directors acted in their ‘conflict of interest’ positions making financially advantageous decisions to sell their fixed-capital using the SBS reserves as leverage.  Their decisions financially disadvantaged the SBS members and this is the ‘fraud crime’ committed by these Directors.

This was made possible by the way the SBNSW was structured with influence from Premier Wran and his Special Minister and Minister for Co-Operatives – Minister Terry Sheahan.  Mr Sheahan is now a Justice of the NSW Land and Environment Court and with this on his record – the court appointment has to be questioned on many levels.  Both he and Premier Wran influenced the formation of the SBS under rules that were questionable at the outset and with a motive to suit the SBNSW in their cause to overturn the 1931 Agreement with the CSB.

In the final decision in determining the fate of the SBS, its members had no say in the matter – they were only ever given the choice to vote to accept the St George ‘transfer of engagements’.   Had the vote failed then the SBNSW were screwed and the SBS would have remained independent.   There was much incentive for the SBNSW and NSWG to win this merger vote.

It seemed that nobody wanted to put up a fight to protect the interests of the SBS members – all resistance had disappeared except for those SBS members who showed up at the AGM.

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The Media Responses:

The media attended the AGM meeting and reported the events in their newspaper publications as presented below:

The Sydney Morning Herald SBS AGM story:

SMH Logo


| Author: By PAUL CLEARY | Banking Writer | Date: 22/08/1988 | Publication: Sydney Morning Herald | Section: Business | Page: 29 |

A rowdy meeting of 300 State Building Society shareholders yesterday could not hold back sale of the society to St George Building Society, with a campaign for proxy votes supporting the merger winning the day.

In what were the dying moments of yet another building society, shareholders fought the board’s unanimous decision to transfer the society to St George. In the end, the silence of proxy votes overcame the jeers.

The State Building Society is the last of the big societies to depart. St George will now be 10 times the size of the next-largest society in NSW, and will have $6.2 billion in assets, more than 300 branches and the largest share of housing loans in NSW. Its housing loan portfolio will be larger than that of the ANZ and National Australia banks.

As part of the October 1 merger, SBS owner-occupier home loan borrowers will have their rates reduced from the current 14.5 per cent to the existing St. George rate of 13.5 per cent.

All SBS outlets will operate under the red and white St. George banner.

In recommending the St George offer to State Building Society members, the chairman, Mr Paul Kearns, who is a general manager with the State Bank, told shareholders how the St George offer would maintain the same service to customers, and how it was the best alternative if shareholders wanted to remain part of a co-operative.

While the society’s eight-man board is controlled by State Bank, independent directors made emotional pleas for members to support the merger with St George. One director, Mr Alwyn Thomas, said the independent directors were highly regarded businessmen, were acting in shareholders’ interests and would not “sell you down the river”.

State Bank owned all the fixed shares in the society, and had moved to merge it in May. Mr Kearns said “negative” reaction to the bank’s proposal led to the $75 million sale to St George.

He said the St George bid had made the society happy, the Government happy, and the Registrar of Co-operative societies had gone “out of his way” to assist.

Opposition to the merger at the meeting was met with loud applause, suggesting that members who came to the meeting opposed the merger, and that support came from proxy votes.

The strength of proxy votes at the meeting followed directives sent to SBS branches which told staff to advise shareholders to support the St George bid.

One memo to staff early this month said: “As the society’s board has unanimously recommended acceptance of the transfer proposal, staff should encourage ticking the box in favour of the proposed resolution.”

About 77 per cent of votes supported the resolution to merge with St George, a comfortable margin above the two-thirds minimum required under the society’s rules. About 1,400 votes were lodged from the society’s 250,000 members, so about 80 per cent of the votes were proxies.
The biggest question on the shareholders’ minds was why their society could not remain independent. One member asked why State Bank had not offered to sell back its fixed shares to the society.

He said the directors should give the society back to the members who had $1.6 billion invested, compared with State Bank’s $3 million investment in fixed shares. (State Bank owns all the fixed shares in the society, bought in 1982 for $3 million. The shares give the bank control of the society’s eight-man board.)

Mr Kearns said the bank would have liked the society to buy back its shares, but the amount of money involved made this an unviable alternative, given the society’s earnings. He said the bank had closely looked at this alternative.

Ultimately, if the society wanted to remain a co-operative, St George was the only building society large enough to pay the $75 million demanded by the bank. In six years, the bank has made 25 times its original $3 million investment.

Another member asked why the shareholders were not compensated in the same way as were the directors. The third motion at the meeting authorised a $12,000 payment to each director to compensate loss of office.

Mr Kearns replied that members would get the same service as they did at the State Building Society.

Another told the meeting that the directors were giving St George a “carte blanche to play around with us”, and this was also greeted with applause.

Mr Kearns replied that St George was a co-operative society, service to members would be “almost identical”, that SBS staff would have a say in management of the society, and that he was “confident the directors of St George will look after your interests”.

One member, speaking against the first resolution, tried to amend the resolution so that retained earnings of the society would be divided among withdrawable shareholders.

While this was greeted with applause, it was a futile effort, as Mr Kearns ruled that the meeting could only vote on the resolutions sent with the notice of meeting. The amendment, which Mr Kearns said was another motion, would have to be voted on at another special general meeting. This was supported by the society’s rules.

Independent directors of the society were vocal in their support of the resolution.

The biggest surprise was Mr Bruce Treloar. He had attacked the State Bank’s merger bid in May, saying the bank would “asset-strip” the society. Mr Treloar was once referred to by the State Bank as “notorious” and part of the “Tamworth mafia”.

But yesterday he was in line with his colleagues on the board.

He was “terribly concerned about the SBS staff”, and concluded that the St George offer was a practical solution.

Mr Alwyn Thomas, made a plea to shareholders to support the St George motion, saying their opposition was because of “fear of change”.

As a chairman of the Premier Building Society, and then a director of the RSL-Premier Building Society (which became the SBS in 1982), he knew all about building society transfers, and said the Registrar of Co-operative Societies always had members’ best interest in mind.

Members had nothing to fear, he said, as the four independent directors were there to look after withdrawable shareholders, and would not sell them out.

The independent directors include Mr Treloar, a Tamworth retailer and director of a regional television station, Mr Ross Cribb, chief general manager with TNT, and Mr Warren Osmond, secretary of the NSW branch of the RSL.


The SBS Chairman Paul KEARNS – (also Legal Counsel for the SBNSW – and part of the SBS and its formation since the late 70’s) –  gave several misleading statements throughout this meeting – his comment about ‘negative responses to the merger’ had some truth – however it was far from the real reason the SBNSW abandoned its merger agenda – as has been described in detail in previous EYE-BALL Zombie-Leaks uploads

As with any takeover/buyout’s these meetings are controlled from the Chair.  Of the 250,000 SBS members – around 300 made the effort to show up at the meeting – many were SBS staff and they and the members were all against the merger.

The total votes cast numbered 1400 according to the report above – proxies made up 80% – all that was needed to carry the ‘transfer of engagements’ resolution was two-thirds majority of votes cast – it was a done deal before the meeting started – as is generally the case in these types of scenarios – no unexpected surprises – the SBNSW had controlled everything …

One of the crimes exposed was not in this final execution – but in the comment attributed to the Co-Operatives registrar – “… the Registrar of Co-operative societies had gone – “out of his way to assist” … Mr Baker the Registrar at the time – has refused to talk about this and other related matters when recent attempts were made to contact him.   Mr Baker was against the merger between the SBNSW and SBS from the outset – why he was now being reported as being in favour and supporting a merger with St George and SBS – a merger he advised his Minister some months earlier would sound the death-knell of the Building Society movement in NSW – is for him to answer when he decides or forced under oath to tell his side of the story.

What was the SBS Chairman’s – Paul Kearns – motive to draw attention and raise this at the AGM when all the evidence was to the contrary?  Two odd years ag when this was first discussed with Mr Baker he told of a promotion he received at the time – he had been moved from Parramatta to teh Sydney CBD and his Registrar duties were now only part of his responsibilities.  When pushed further on this he elected to and advised that he did not want to discuss the SBS merger anymore – his parting comment was –

‘… I don’t want to be responsible for others being exposed over these events …’  he also said … ‘…  what this research was uncovering would hurt a lot of people …’ – when pushed further to explain what he meant – he said broke contact and said – ‘ … I don’t want to be contacted on this matter again.’

Clearly Mr Baker has plenty of information to offer if asked by the right people …

The Minister and Registrar were on record some weeks prior as wanting the Takeover Review Committee involved – the Minister had also put forward an Amendment Bill over the ‘conflict of interest’ issue when the SBNSW/SBS merger was on the cards.

Why was this ‘conflict of interest’ issue now any different and diminished on any number of fronts because of the ‘sale’ to St George –

  1. This ‘conflict’ potential had been in existence since the SBS was first formed in 1982 – in fact it was formed deliberately so so the SBNSW could pull this caper any time they wanted to …
  2. If and when O’Neill was replaced as Chairman of the SBS – the remaining and replacement Directors from the SBNSW appointment pool would still be doing the bidding of the SBNSW wants – the ‘conflict of interest’ had esisted since the SBS was first formed in 1982 …
  3. This ‘conflict’ was never raised within the Co-Operatives Dept in all the time it existed – this goes to Premier Wran and Minister Sheahan’s colluded influence to allow the SBS to be formed in the manner it was – [Minister Sheahan is now a Justice of the NSW Land and Environment Court – he has much to answer for in the way this SBS ‘conflict of interest’ issue played out.]

This ‘end-game’ resolvement of the SBS began in early May ’88 when O’Neill staged his Boardroom coup –

All the SBNSW wanted after the merger was sunk by the SBNSW’s own incompetence in not having the State Bank Act amended after the 1931 Agreement was rescinded – was a financial outcome from their involvement with the SBS.

The $330 million they extorted via court action from the CSB wasn’t enough – O’Neill wanted more – he needed more – given the financial armageddon knocking loud and clearly at his Bank’s door in the post October ’87 global equities crash meltdown.

The SBNSW never had an alternative or back-up plan should a merger between the SBNSW and the SBS prove out of reach.   They made so many mistakes in the closure of this deal.

The ‘conflict’ allowed and served the SBNSW interest’s in that any sale of the SBNSW owned ‘fixed-capital’ was priced on the basis of control over the SBS – not its  ownership – but with that control came the SBNSW’s own held perspective that they did own the SBS.

This was at the base of their criminal intent – the SBS members owned the SBS – not the SBNSW.  fTere were 1.6 billion withdrawable shares and fixed shares on issue- the SBNSW owned 600,000 of those shares – (fixed-shares) – hardly any representation of ownership.

The SBNSW were now looking for an end-game deal/price that best suited the SBNSW and not the SBS members – this again proves the ‘conflict of interest’ intent and the FRAUD that the SBS members were subjected to – this was acheived via the SBS Board’s actions – again proving that the SBNSW Directors appointed to the  SBS Board were acting against the SBS members interests in favour of the SBNSW – their employer.   Everybody knew of this ‘conflict’ position but were turning a blind eye.

Why did the Minister and Registrar weakenin their resolve to protect the SBS Members  when the sale to St George was advised?

Why did they withdraw their legislative mandate to protect the SBS members when they were aware of the ‘conflict of interest’ issues at play?

Who enticed them to withdraw their objections and protection of the SBS members – their rights and entitlements?

This was a crime – a serious crime involving a very large amount of money – $75 million.  It happened 24 years ago – and it happened with all the NSW Government, the Regulatory Departments, and all their Lawyers and advisors watching and knowing what was happening was wrong.

Why would the current NSW Government not want to bring this matter out into the open and have it investigated?

For this matter to be investigated by the NSW Governemnt – someone would have to have an agenda.  This was a crime of some significance carried out by men who are still serving the public in high-profile positions – yet unless someone sees mileage for themselves – it will never be investigated.  Nobody wants this dirty linen aired …

This crime spans three NSW Premiers – their Ministers and staff on both sides of politics – what can the current NSW Premier Barrie O’Farrell hope to achieve if he were to have this matter further investigated?  … and yet – it must be done – you cannot let crimes like this go unpunished – and especially when heads of Governments and Ministers are involved.

The NSW Treasury has had the use of the defrauded $75 million SBS funds for some 24 years – their agent John O’Neill added another $1.8 billion in 1995 value terms to the NSW Government’s Debt burden when the SBNSW was sold to Colonial Mutual minus the ‘bad-debts’ accumulated under his term as its MD.

What could be a reasonable outcome if a Royal Commission investigated and found enough evidence to pursue criminal charges against Greiner, O’Neill, Sheahan, Wran and the other Government staff involved?

Unsworth escapes the serious charges – all he is guilty of is complacency in not stopping what had been put in place by Wran …  To quantify the values on the monies stolen and defrauded – the following list is presented as potential  ‘class action’ damages –

  • The $75 million the SBNSW received has a compound value today near – $1.63 billion …
  • The $330 million the CSB paid over under a Court won verdict that has to now be tainted has a value of – $7.16 billion
  • The $8.5 million in SBS staff bonus payments taken off them by O’Neill and added to the SBS reserves thus inflating the price St George paid – i.e. $75 million – has a present day value of  – $184 million …
  • Then there was the career earnings Greiner and O’Neill were able to earn in the 24 years since because their crimes went unchallenged – Mr Greiner was recently appointed NSW Infrastructure supremo by NSW Premier O’Farrell – meaning he is possibly earning Director fees from any number of Government paid contractors … Premier O’Farrell would find plenty of pressure in trying to walk away from that decision …  and
  • And then there is the career earnings the SBS Management never earned because of the spiteful media campaign undertaken by O’Neill to deliberately destroy their creditability in the lead up to the SBS AGM and its aftermath …


The Australian Financial Review SBS AGM Story:

 Page 1:

Page 2:


Again Mr Alwyn Thomas – the turncoat who sold out on the SBS Members when he accepted O’Neill’s invitation/offer to help him get rid of the SBS GM Denis Cleary from the SBS Board shines in his statement presented below and as reported by the SMH above –

“… As a chairman of the Premier Building Society, and then a director of the RSL-Premier Building Society (which became the SBS in 1982), he knew all about building society transfers, and said the Registrar of Co-operative Societies always had members’ best interest in mind.

Members had nothing to fear, he said, as the four independent directors were there to look after withdrawable shareholders, and would not sell them out… “

… and again as reported in the Financial Review above –

… Mr Alwyn Thomas who said – “put your faith in us, we wouldn’t sell you down the river.

Groans were heard from the floor –

Mr Thomas persisted – “if it wasn’t fair it wouldn’t happen.  Members should place their fear behind them,  the laws for Co-Operative Societies don’t allow people to put their hands in your pocket and take money out.”

In fact what Mr Thomas stated was exactly what did happened – the Co-Operatives Dept deserted the SBS members – and the SBNSW put their hands in the pockets of the SBS members and took out $75 million – the value attached to the reserves and goodwill of the SBS that SBNSW were prepared to sell out the SBS members for.

Obvious crimes like this don’t happen very often – not in full sight of everybody – it could only have happened with Government intervention and sanction.  Why this was never questioned by  Minister Peacocke after the fact is also a question worth an answer.

Lawyers working in the Business and Consumer Affairs, Co-Operatives, Solicitor General’s office, Attorney General, and all the external lawyers connected – they all stood back and allowed this fraud to happen …

In 2010 – the NSW Premier, ICAC, the Premier and Cabinet Dept, the NSW Attorney General – and the Minister for the Office of Fair Trading – were all given the opportunity to have a look at all the evidence presented in this expose – they all said – “TOO HARD”“TOO Long ago” – and they all wanted to pass it on to the NSW Premier’s office …

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Part 14 continues … this installment covers the NSW Governments responses and inaction during 2010-11 when these matter were bought to their attention.

Part 15 – this installment is about the SBNSW’s bad-debts legacy left upon the NSW taxpayers – its current value – this research is currently under way with NSW Treasury …

Part 16 – the conclusion … including an update on tfe current NSW Governemnt’s willingness to investigate this matter – if you think that the allegations made during this expose are worthy of an investigation with a view to pressing crimonal charges if the allegations are proven to have validity – please write your Local NSW Parliamentary member – their e-mail and postal address can be found using this link:

  • Link to NSW Parliamentary Members contact details:
  • or you can send a broadcast e-mail to all the NSW Members of parliament using the address’s pasted below – [i.e. copy and paste these addresses into you ‘BCC’ or ‘To’  E-Mail address line … remembering that bulk broadcasts can only take 70 odd e-mail receipants unless you have special e-mail programs that can handle more.]
  • If you do decide to write to your local member – please use the following subject line:

“Register support for an investigation into John O’Neill’s activities as head of the State Bank of NSW during 1988 through to the sale of the bank to Colonmial Mutual in 1995.”

‘Andrew CONSTANCE (’;
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Part 14 – 15 continues … see link below …


Link to all previous chapters for –

“Human Evil Exposed – John O’Neill (CEO-ARU)” – The SBS Story


The EYE-BALL Opinion … Without Prejudice …

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