Thursday, November 22, 2012
Vizard and Oliver
Clendore, at 18-20 Fitzroy Street, St Kilda, corner of Park Street has recently been sold by Steve Vizard, best known as a comedian and tv show host. The asking price was around $8 million and it sold for around $7 million.
Vizard was investigated by the Australian Securities and Investment Commission and the Commonwealth Director of Public Prosecutions and both found Vizard did not have a case to answer over allegations of insider trading when he was a member of the board of Australia's privatised telecommunication company, Telstra.
ASIC did take civil action against Vizard for breaching his duties as a director. The case was settled with Vizard paying a $390,000 fine and agreeing not to take a company director's position for three years. In spite of the agreement, a Federal Court Justice ignored it and disqualified Vizard from holding a company directorship for ten years.
Allegations were made that ASIC and the DPP had gone soft on Vizard, with both ASIC and the DPP denying that they had.
I rather dislike dishonest people. I particularly dislike rich people who take advantage of their positions to benefit themselves. As a person, I have never liked Vizard anyway. He has always seemed smarmy to me.
I wrote the above some time ago. We now have a jockey, Damien Oliver, confessing to betting a substantial amount on a favourite horse to win in a race while he rode the second favourite in the same race. Guess what? The favourite won and Oliver came in sixth. If it looks like a duck............ The paltry penalty was a ten month suspension from riding.
Our only weapon against cheats is to think badly of them and place their names in the shame files. I do.