Normal
I remember when this was listed back in '99 for $1. Geoff was pumping it in Shares Magazine, it was his first fund. I got a company report from them as back in those days there were no charting systems and I attempted to do it on a fundamental basis.After reading through all the information very carefully I decided it wasn't for me. Hidden in all the gumph in various sections there were a couple of hidden words in different sections. BAM and MAAM. I thought to myself...funny man, WAM, BAM, thank you MAAM! No thank you SIR!Then I did a bit more research and found his old man Carl Wilson appeared a bit dodgy. So decided if father like son best to keep clear.Fund founders clipped Two young guns who were raised in the halcyon days of the venerable Melbourne broking firm McIntosh (now Merrill Lynch) have found themselves in a spot of bother with the taxman.Carl Wilson and Graeme Little, who went on to found and run Greenchip Funds Management - which advocated shares in small companies over blue-chip stocks - will have to pay the ATO a hefty sum over unpaid tax on a $500,000 deduction each of them claimed as part of an employee share plan. Little settled the dispute with the Tax Office for an undisclosed sum but Wilson told the court that he had to withdraw from settlement negotiations "following a police raid on [his home/office] that was thought to be in connection with [the offshore tax scheme crackdown] Operation Wickenby" in October 2005.To add to his woes, Wilson will have to pay the tax he owes, plus interest going back seven years and a hefty penalty, after the court threw out his case. The fund was wound up at the end of 2000.Wilson has left the country and is building a funds management business in Europe and Dubai.[URL unfurl="true"]https://www.smh.com.au/business/dying-sheep-gives-ubs-the-heave-ho-20071003-gdr90l.html[/URL]
I remember when this was listed back in '99 for $1. Geoff was pumping it in Shares Magazine, it was his first fund. I got a company report from them as back in those days there were no charting systems and I attempted to do it on a fundamental basis.
After reading through all the information very carefully I decided it wasn't for me. Hidden in all the gumph in various sections there were a couple of hidden words in different sections. BAM and MAAM. I thought to myself...funny man, WAM, BAM, thank you MAAM! No thank you SIR!
Then I did a bit more research and found his old man Carl Wilson appeared a bit dodgy. So decided if father like son best to keep clear.
Two young guns who were raised in the halcyon days of the venerable Melbourne broking firm McIntosh (now Merrill Lynch) have found themselves in a spot of bother with the taxman.
Carl Wilson and Graeme Little, who went on to found and run Greenchip Funds Management - which advocated shares in small companies over blue-chip stocks - will have to pay the ATO a hefty sum over unpaid tax on a $500,000 deduction each of them claimed as part of an employee share plan.
Little settled the dispute with the Tax Office for an undisclosed sum but Wilson told the court that he had to withdraw from settlement negotiations "following a police raid on [his home/office] that was thought to be in connection with [the offshore tax scheme crackdown] Operation Wickenby" in October 2005.
To add to his woes, Wilson will have to pay the tax he owes, plus interest going back seven years and a hefty penalty, after the court threw out his case.
The fund was wound up at the end of 2000.
Wilson has left the country and is building a funds management business in Europe and Dubai.
[URL unfurl="true"]https://www.smh.com.au/business/dying-sheep-gives-ubs-the-heave-ho-20071003-gdr90l.html[/URL]
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