Tag Archives: #teamkey

Key’s biggest lie of all: his 1991 statement to the Equiticorp inquiry

The Standard has a posted an updated listing today of John Key’s lies. There’s a lot of them.

One lie that doesn’t often make these lists is what I believe to be the biggest lie of all: his 1991 statement to the Equiticorp inquiry.

john-key-three-in-a-row

In July 1990 New Zealand’s newly formed Serious Fraud Office were charged with investigating the shambles that was Equiticorp and it’s now infamous founder Alan Hawkins.  Unraveling a ledger entry called ‘H-Fee’ ultimately saw Australia’s SFO equivalent, the now defunct National Crime Authority, assist with the Equiticorp investigation.  While the SFO pursued Hawkins over Equiticorp, the NCA went after Australian based Elders IXL and it’s founder John Elliot over the ‘H-Fee’ entries. It was alleged that $67 million (NZ$76) in fraudulent foreign exchange transactions were made in two payments to Equiticorp to pay back Hawkins for his assistance in Elliot’s 1986 takeover battle for steelmaking giant BHP.

Two years early on 26 August 1988, setting in motion the second  (A$27 million) of the ‘H-Fee’ payments, Elders IXL executive Ken Jarrett had met with Elders Merchant Finance manager Peter Camm and head of foreign exchange, Paul Richards in Wellington. The transaction was completed on 7 September 1988.

One week before been elected Prime Minister of New Zealand in November 2008, Key was asked about the truthfulness of this statement. He said it was 100% truthful, 100% correct and anything else was “a smear campaign by a desperate left”.

Is it a smear if an accusation is true?

When the NCA brought charges against Elliot and other Elders IXL executives, Peter Camm and Paul Richards were also facing fraud charges. In May 1991, now working at Bankers Trust, Key was asked to corroborate a part of Richards statement, namely a lunch he claimed that two had on 31 August 1988.

Richards was alleging it was the 31st and not the 26th that he and Camm had met with Jarrett that August. The trader was adamant of the date and told investigators he could recall the “lunch” and it’s “date”, as it was a “farewell” for “John Key” who was leaving the firm to go to Bankers Trust. Key agreed with Richards recollection of events and made a statement to the investigation reflecting that.

Except Key worked with New York based currency raider Andrew Krieger while they were both at Bankers Trust. This relationship has been confirmed by Key’s then boss, Gavin Walker. Walker has said of the relationship, that it was more or less in Key’s job description to look after Krieger, saying on Key’s first day with Bankers Trust he gave Key a list of their top clients, of which Krieger was one of them. Key himself has said he will never forget his first call with Krieger, where he asked Key about New Zealand’s GDP and it’s monetary supply.

For Key to have worked with Krieger, of which there is no doubt, then he would have had to have left Elders Merchant Finance in August 1987, and not 1988 as told to investigators, as Krieger resigned from Bankers Trust in February 1988. By June 1988 he had retired from the currency markets altogether, not returning to them until 1990. Readers may also recall Key told a reporter in 2007 he had indeed left Elders Merchant Finance in 1987 but called that a mistake when his 1991 Equiticorp statement surfaced a year later.

If Key wishes the New Zealand public to believe he was telling the truth to them in 2008 when as a wanna be prime minister, he assured them his 1991 Equiticorp statement was 100% true and correct, then he needs to explain to us how he, in late 1988, supposedly began working so closely with a world infamous currency trader who was no longer working in the currency markets. He also needs to explain how Walker, now Chair of the Board of Guardians of the New Zealand Superfund, could have his recollection so wrong as well.

What authorities need to know is, knowingly misleading a Serious Fraud Office investigation carries a maximum fine of $15,000 and/or 12 months imprisonment. Not too mention the possibly criminal issue of Key and Richards conspiring to mislead an investigation.

While some might question whether or not Key lying in his youth has any bearing on the man today, the facts are some 55,000 Equiticorp shareholders were defrauded of over $400 million dollars.

If Key was willing to lie to protect those involved in facilitating some of that fraud, does he continue to lie today to protect himself?

In his book ‘Dirty Collars’ ex SFO head Charles Sturt says this of the vast powers bestowed on his department,

“while a person may be compelled to answer questions, these answers may only be used in evidence if the accused subsequently gives evidence inconsistent with their previous statements”

John Key, did you lie to the Serious Fraud Office?

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Resignation Watch: calls are growing for New Zealand Prime Minister John Key to resign after the ex currency trader is caught on CCTV playing an illegal game of Elevator Bingo in Beehive lift…more at six.

Calls are growing for New Zealand Prime Minister John Key to resign after footage surfaced of him participating in an illegal game of ‘Elevator Bingo’.

His party’s National government legalised elevator gambling in all government buildings last year at the request of casino operator Skycity who were seeking an outside of the box solution to cover a funding shortfall for their iconic #SkySore Convention Centre in Auckland. While elevator gambling was perfectly legal in all other government buildings, it still remains a criminal activity in the lifts of the nation’s Parliament and the footage has many questioning the Prime Minister’s judgement.

He had earlier rubbished Opposition claims his office was moving to legalise gambling in the Beehive’s lifts after it was revealed last minute amendments were made in secrecy to Skycity’s 200 year elevator gambling license last week, including provision for bingo balls to be installed in any lift at any Government Ministers’ request.  When confronted by journalists this afternoon, the Prime Minister said he could not recall ever been in an elevator and he was “comfortable with that” but would consult with his Office stapler to be sure.

Last week the Prime Minister refused to be drawn on rumours of the secret amendments saying they were ‘operational matters’ but maintained if there were any balls, hypothetically the balls would be an eyesore only if cheaper smaller balls were installed, especially when all economic signs pointed to the Beehive needing bigger balls when gambling with a casino operator such as Skycity.

Anti-gambling opponents angered by the latest revelations say access to the Beehive would be lucrative for Skycity, especially if the Government approves the casino’s bid to legalise ‘Lave Va Tory Craps’ too.

Meanwhile the country’s Attonery General Chris Finlayson denied his elevator bingo hosting gig was a violation of his employment conditions, citing a recent change to Speaker’s ruling ‘Eggs Eleven’  which made it a requirement for Ministers of the Crown to moonlight as Beehivecity ‘Elevator Bingo’ hosts at least three nights a week.

Re-enactment only: Beehive CCTV 

Speaker David Carter confirmed the rule change, saying he was having Parliament do what it could to assist the Government with it’s surplus, and to a lesser degree the struggling Prime Minister whose office was feeling the pinch after Parliament ruled Prime Ministers were to supply their own Prime Ministerial crayons for the entirety of their term; and with at least three potential Key Prime Ministers inhabiting the office at any given time the stationary expenses on the 9th floor were said to be skyrocketing.

As well as having Crown Ministers’ tithe their bingo commissions to the Prime Minister’s office, Parliament visitors were being asked to bring donations of non-toxic textures and PM friendly pastels with their next visit.

“We’ve all gotta do our bit,” the Speaker said, “if they could play bingo while they’re here, that would be great too.”

In other news – Minister of Finance Bill English has been cleared of any wrong doing in the elevator, with investigators concluding the state of the New Zealand economy was enough wrong doing for any man.

First use of #SkySore tag in print: @malosilima – Dave Armstrong’s ‘Odds stacked against SkyCity’ – bit.ly/SkySore
@bryce_edwardsbit.ly/TweetsSkyCity

John Key – ’91 SFO statement or working with Andrew Krieger: they can’t both be right

Hootens text re Sabin Keys knowledge2

This Twitter tweet from right-wing political commentator Matthew Hooton caught my eye yesterday. Not because the Prime Minister of New Zealand John Key may be found out in another lie, rather it caught my eye because I’ve had similar “They can’t both be right” moments of clarity about our dear leader.

The most serious one involves a statement he gave to the Serious Fraud Office in May 1991 which surfaced in the lead up to the 2008 general election, and the reports of him working with the infamous currency trader Andrew Krieger.

In both the New Zealand Herald and the Sunday Star Times in 2008, and as recently as last year in John Roughan’s book ‘John Key: Portrait of a Prime Minister’, we were told Key worked with the infamous Krieger when they were both traders at Bankers Trust – Key in the Auckland branch and Krieger with the parent branch in New York. Key himself said he will never forget their first phone call, saying Krieger asked him about New Zealand’s GDP and its monetary supply.

Key’s boss at the time Gavin Walker has said it was basically Key’s job description to manage the relationship with Krieger, giving Key names of top clients on his first day with the firm, one of which was the New Yorker. Key’s relationship with Krieger and other traders at Bankers Trust in New York were credited with turning the New Zealand branch into the number one forex trading room in the country.

It is this well documented working relationship between the two that rips some serious holes in Key’s (and that of ex-colleague, Paul Richard’s) 1990s statements to the SFO – namely the date of a ‘lunch’, the reason for it, and indeed, if there ever was one.  Richards was facing fraud charges for his part in a series of fictitious foreign exchange transactions between high flying New Zealand company Equiticorp and Australia’s Elders IXL, the trades came to be known as the ‘H-Fee’ transactions.

In November 1990 Richards told the SFO investigators he could remember a ‘lunch’ on 31 August 1988 as it was his friend and colleague (John) Key’s farewell – Key was leaving Wellington based Elders Merchant Finance for a position with Bankers Trust in Auckland.  The date for the lunch was in contention as it differed by some days from the recollections of Richard’s co-accused.

In May 1991 it was Key’s turn. He corroborated Richards’s evidence and assured investigators he too could recall the lunch they had had and events during it, telling the SFO he had resigned from Elders on 24 June 1988 and was immediately put on gardening leave. The lunch with Richards was on his last day, 31 August 1988, and he was leaving for Auckland immediately to start work with Bankers Trust.

However Krieger had resigned from Bankers Trust on 23 February 1988, some six months before Key and Richard’s alleged ‘farewell’ lunch. Is Key’s well documented working relationship with Krieger merely a fabrication? Although it would be pretty hard at this stage for even the most accomplished of spin doctors to claim Key did not work with him, though I’m sure some will try.

So I once again find myself asking – because, as Hooton so succinctly put it – “they both can’t be right”….

“John Key did you (conspire to) lie to the Serious Fraud Office?”

Moments of Political Truthiness in New Zealand’s mainstream media

This graphic from Paul Le Comte is representative of how the main media news sites often spin poll results to their audiences. 

In Paul’s graphic you will see the following:

A headline: Moment of Truth gifts Team Key a late bounce in polls

A sub – Heading: “Last voter survey before election day shows jump in National’s rating.”

& a paragraph: “Today’s poll has National on 48.2 per cent, down a little from last week when the seven-day polling is totaled.

It would be able to form a Government with its current support partners, Act, United Future and the Maori Party, assuming they are returned to Parliament.”

With the following poll results: National -0.4, Labour +1.3. 

Disingenuous Media - NZ Herald

New Zealand Herald – 19 September 2014

 

In July I’d noticed a similar thing when a drop in National’s rating and a rise in Labour’s was framed as “consolidating National’s grip on the electorate.”

The article’s headline: Labour’s poll woe deepens

National holds on to huge lead - Stuff

“Labour’s poll woe deepens” 17 July 2014

I hope after tomorrow’s General Election we turn our gaze on the mainstream media and ask them what the f? 

“Is orange the new Nat?”

"Is orange the new Nat?"

#YourAREthesystem Prime Minister! Take some responsibility.

Teamkey you are the system

National party leader Peter Goodfellow misreads memo. Grows ’70s porno mo’ in support of #TeamKeyParty .

Teamkeyparty

Battle of the #Hastags – #ForABetterNZ trends on Twitter, #TeamKey didn’t