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JAIL THE HIPPY: Green militant Jonathan Moylan’s financial fraud must be punished with full force of the law

Jonathanmoylan

The Greensparty had so far enjoyed an amusing summer of love, the hot weather enabling them to talk endlessly as annoying people do about the weather and climate change, a Greensparty Victorian MP demanding air-conditioning for public housing tenants without reference to their normal opposition to air conditioning or electricity use of any kind, a buoyant Newspoll result in Victoria suggesting their vote is soaring like a pterodactyl, their Acting Leader (acting in so many ways) exploiting a ministerial gaffe about she could live on the dole and all until their parliamentary leader Christine Milne and her factional rival Lee Rhiannon endorsed a young fellow’s forgery of an ANZ Bank press release that caused a share market crash of around $300 million or more.

The forgery – of an ANZ Bank press release claiming it had withdrawn a facility previously extended to miner Whitehaven Coal for a project in the Hunter Valley – caused chaos in financial markets, with many investors who traded the stock on the basis of the false information contained in the forgery left out of pocket. The Australian’s plugged-in financial markets correspondent Brian Frith explained today that the trades will not be able to be easily cancelled, meaning they’ll have to cop the loss, as much as 8.8% for some investors, unless the authorities take action, probably in court to reverse the trades.

Frequently, directly or indirectly through funds managers, the retirement savings of many Australians are tied up in shares so the forgery incident has not just hit coal barons or coked-up day-traders, it could well have cost Aussie battlers a lot of money. Money they won’t get back.

Frith makes the point that there aren’t many big financial institutions in Whitehaven Coal so many of those hurt by the forgery could be smaller retail investors.

The perpetrator thinks it’s a big laugh though, boasting:

“My main concern is not for people who won’t be able to buy their next Rolls-Royce but who are about to lose their farms”.

Jonathan Moylan, an environmentalist, has admitted the crime, with most expecting the Australian Securities and Investment Commission and the Police to initiate an investigation into it now.

The media, or at least some of it, and the leadership of the Greensparty insists on calling what was a blatant case of forgery and illegal market manipulation under the Corporations Law, a hoax, language calculated to minimise the serious incident as a prank.

Moylan didn’t just forge the press release but also pretended to be the bank’s spokesperson, in at least one incident and possibly others.

There is no eco-extremism defence to breaches of the false statement provisions of the Corporations Law or forgery under NSW law, a crime punishable by a sentence up to ten years.

Moylan is clearly a cretin and a deceitful, dangerous one at that.

But those law-makers willing to defend his law-breaking so glibly and without any consideration of the people damaged – and the jobs endangered – by the forgery are clearly unfit to hold the positions of high responsibility they maintain.

An ex-Soviet Union cheer-leading revolutionary, Rhiannon is meant to be the barking mad Greensparty militant so her endorsement of the forgery is perhaps no great surprise.

And yet, the party leader herself, also endorsed Mr Moylan’s crime-spree:

“Part of a long and proud history of civil disobedience, potentially breaking the law, to highlight something wrong.”

Martin Luther-King Jr they aint.

When ASIC throws the book at this young market-rigger, forger and fraudster, as they most certainly should, watch the Greensparty drop him like a hot vegan spud.

Discussion

Comments are disallowed for this post.

  1. Shouldn’t the media organisations that published his fake media release without bothering to undertake basic checking with the purported source be the one’s that should be punished?

    What next. Some 14 year old teenager decides to try this same prank after reading about it and they will be jailed too?

    Pull your head in.

    Posted by Sam | January 9, 2013, 10:57
  2. Good on him, I hope those immoral Investers (Nature Vandals) are hurting real bad.

    Posted by anon | January 9, 2013, 11:57
  3. He masqueraded as the anz corporate spokesperson. How are reporters supposed to check? Ring up mike smith and ask him if his corporate affairs department are telling the truth? If the media release is real. Go to jail, go directly to jail hippy.

    Posted by Mum and dad investor | January 9, 2013, 16:59
  4. I heard of a couple of pensioners who had a few modest shares in this stock.Sold out when price bottomed. There should be a lengthy jail term for this fraud. Looks like jail would suit him well.

    Posted by Anonymous | January 9, 2013, 17:33
  5. I’m thinking of doing the same with some Green Energy company.

    Posted by H the B | January 9, 2013, 18:52
  6. What law did the media co’s break?

    Posted by H the B | January 9, 2013, 19:14
  7. SO WRONGE. BUT IN MANY WAYS SO BLOODY RIGHT. WHEN WILL WE LEARN THE IMPORTANCE,AND SCARITY OF THE WORLDS ARIBAL LANDS.

    Posted by RICK BAYSINGER | January 9, 2013, 19:57
  8. Johnathon should pay the lost revenue to the ASX or face the full force of the law

    Posted by Rod Doherty | January 9, 2013, 20:44
  9. Even I don’t think the greens and this stooge are so dumb.
    Wonder if they made some money from this after the share prices dropped?

    Posted by GFW | January 9, 2013, 20:49
  10. I think he is a hero and much braver than me. I play the game, work in the mainstream, but fear for the long term future of our natural environment. At least he got a result unlike many govt departments where one can not voice such an opinion.

    Posted by Anon | January 9, 2013, 21:44
  11. VOTE 1 Jonathan Moylan

    Posted by Inspector Gadget | January 10, 2013, 0:06
  12. Right on Sam.

    The media outlets and ASIC are both mainly responsible for the swipe off the whitehaven share value.

    Keep up the good work Moylan, the system is structured to benefit the fattest of cats. One who fights for our interests will be acknowledged sooner or later.

    Much Appreciation

    Posted by Steve | January 10, 2013, 0:52
  13. Oh yeah!

    Pull your head in

    Posted by Steve | January 10, 2013, 0:53
  14. SAM
    “The forgery – of an ANZ Bank press release claiming it had withdrawn a facility”

    You need to pull your head out of the clouds and wake up to yourself , This man committed a serious crime and must be punished .

    I hope he gets Life in the hole !

    Posted by Hippy Slayer | January 10, 2013, 8:30
  15. Good point Sam. The MSM bear some responsibility.

    I would be extremely amused if the Spencer St Soviet went bankrupt over a green “prank”.

    You may think Schadenfreude is a bitch….just wait ’till you meet her mother!

    Posted by BDS = Bigoted, Degenerate and Stupid | January 10, 2013, 10:21
  16. incidently sam you should stop buying pornos, your dick will fall off with all that wanking. dont read this either mate

    Posted by mike tyler | January 10, 2013, 12:04
  17. Good on this Hippy for demonstrating just what jerks who influence our economy react to. Interesting to see who the Chair of this conned group was. Mark Vaile former Nationals leader.Jonathon Moylan you are a hoot. So some fat cats with more money than sense may have lost some of it. Who gives a s#@t. Shame on you Andrew for bagging this Hippy.

    Posted by Reggie | January 10, 2013, 12:24
  18. A cretin? Really? Seems unlikely.

    I agree with Sam. The media and investors should be more careful. ASIC chasing the person who released an obviously satirical press release is ridiculous.

    Most of the Greens comments are about the intentions rather than the consequences of Moylan’s actions. That actually matters – they’re not encouraging the destruction of our financial systems, but rather encouraging financial systems that aren’t destructive.

    Speaking of satire, is this article intended as such?

    Posted by Ian | January 10, 2013, 14:05
  19. Only fools sell shares when they are low in value; it is not 1929. I am keeping my 2000 Fairfax shares as they can only get better.

    My other shares in the four banks, BHP & other mining companies and utilities are all doing fine.

    Posted by Adrian Jackson | January 10, 2013, 14:41
  20. Sam, your full of rubbish. This twit carefully stagemanaged a run on the market. I hope he rots in a jail cell froa as long as possible, preferably without his laptop and wifi. The moron is cmaped in a NSW National Park in the middle of the fire season lighting fires to cook on! He should be arrested and charged against every law he has broken. His extortion like tactics are in no way supportable, and Milne and her ilk has now, quite properly, ceased to be relevant in any way shape of form through their support of this moron. He has been camped in the park for over 160 days and one wonders what he is doing for income and how he is justifying his centrelink payments. He has zero intention of pulling his weight and is just a worthless rent seeker wanting to live of our taxes. If he wants to get into politics, then he should put his bloody hand up and run for office, if not he should stop breaking laws. He deserves absolutely everything that is coming to him.

    Posted by Liz of Melbourne | January 10, 2013, 14:53
  21. VOTE 1 Jonathan Moylan for PM

    Posted by Inspector Gadget | January 10, 2013, 17:22
  22. Oh Boohoo, Cry me a river you morons. More people need to place environmental and humanitarian issues as a higher priority than earning a quick dollar at the expense of everyone’s future. So what if a bunch of people lose some money, Mr Moylan has done more for the people of Maules Creek and Leard State Forest than any greedy capitalist hell bent on making a profit. I see the as a big win for the environment and our children’s future. Thank you Jonathan Moylan for fighting for what you believe in.

    Posted by Dave | January 10, 2013, 18:31
  23. Poorly written article. No apparent comprehension of the subject matter at all. Again.

    Posted by Vex This | January 10, 2013, 18:39
  24. He is an eco-terrorist and an economic saboteur who should be made an example of. Gaol the loser.

    Posted by Patriot | January 11, 2013, 2:57
  25. now why is everyone questioning the wisdom of those who believe green is the new Red. Rhiannon has been a fukwit ever since she got into politics and Milne who always looks like she has a wedge in her mouth is her apprentice stalinist.
    Greens stand for nothing and dont have to answer to anyone so.

    Posted by the Judge | January 11, 2013, 8:38
  26. if you play the stock market you gotta face up to losses. It happens all the time, and frankly, if your making money from destroying the future you deserve to get burned.
    the prices fell 8%.. therefore noone of these loyal shareholders lost more then 8% on thier transactions. boofrickety hoo

    Posted by wise guy | January 11, 2013, 11:42
  27. If a hippy with a laptop and wifi can cause millions to wiped off the value of a company, what could those clever blokes in nigeria do?

    Brokers will be happy they got their commission on any sales, and ASIC need to fix the system and not go after our long haired unwashed bro.

    Posted by Digger | January 11, 2013, 15:21
  28. Spot on Digger and I have ANZ shares.

    Posted by Adrian Jackson | January 11, 2013, 22:16
  29. I trust this blog will now request justice for all H SU wrong doers with equal vigour. Or will a blind eye still be turned?

    Posted by Law and order | January 12, 2013, 6:11
  30. I believe fervently in the right of civil disobedience and I am prepared to accept disruptions and inconvenience and delays and even the hijacking of media outlets in the cause of democratic free speech.

    However, when the act of civil disobedience crosses into a clear intention to cause financial loss to people on the basis of hoodwinking them by falsehoods, then as a society we must pause and question whether such actions are justified.

    Market manipulation is market manipulation. False and misleading conduct is false and misleading conduct. Forgery is forgery.

    This was not the action of someone disempowered seeking redress because the State was oppressing him. This was not a stunt. It was an action designed to hurt people financially so they abandon a lawful industry.

    It was therefore morally unable to be justified. The law should therefore be applied to ensure such tactics do not re-occur.

    The ease with which this scam was perpetrated suggests that the very fast money of market transactions may need attenuating to protect against fraud and manipulation – perhaps some sort of delay and confirmation process to make transactions voidable in certain defined circumstances where market knowledge is imperfect or selective.

    I am keen to ensure that this aberrant behaviour is not condoned and some attempt is made to reduce its re-occurrence but I am also very concerned that the cure may be more bureaucracy and intervention leading to more market imperfection and higher costs of transacting.

    Perhaps, the simplest solution is to leave the core market principle of caveat emptor/vendor intact and let this lesson remind people of the balance they need to make in each case of weighing the risk of reacting too quickly to single source information against the risk of waiting too long to respond.

    Posted by Giuseppe De Simone | January 12, 2013, 13:31
  31. Let’s watch an impartial ASIC investigation under a Labor\Greens government. Hope it does not take as long as the one into Craig Thom(p)son.

    Posted by Justice | January 12, 2013, 15:24
  32. Daily we get junk emails claiming to be from banks but they are scams. I hope ASIC does something about the Internet fraud. In contrast the hippy was only making a political statement.

    Posted by Adrian Jackson | January 12, 2013, 15:48
  33. In a hundred years time, who can say that what he did was a call to save our Planet.But of cause big Bussiness has to digg it out, no matter what damage it causes. We, the little People dont count and I am not a member or follower of the Watermelons. After everything has been dugg out, what will be left, but big holes and ruined Land.

    Posted by Taliban fan | January 13, 2013, 1:32
  34. one only had to quickly read the release and see the Red Flags bouncing out at you.
    ANZ has long known to back dubious anti environment projects.
    The green washing in the release was a complete turnaround on normal ANZ policy.
    And what people dismiss is that a lot of money was to be made with this hoax, not just loss of so called Mums and Dads. I wouldn’t touch ANZ with a 10 foot pole, ever.
    good on him, more than anything he exposed the fragility of the market, what a farce it is.

    Posted by not for me | January 13, 2013, 12:58
  35. Dean Mighell can share the same cell.

    Posted by jimmy | January 13, 2013, 19:54
  36. How is Dean going? He can’t have long to go surely?

    Posted by Jimmysmatesmate | January 13, 2013, 21:19
  37. jimmy & Jimmysmatesmate , that hippy does not look like a transvestite , so unless he puts on a pretty frock i wouldnt think Mile would fancy him.

    Posted by jimmys mate | January 14, 2013, 7:57
  38. Ha ha, true that

    Posted by Jimmysmatesmate | January 14, 2013, 20:16
  39. Put him to work in the mines and use the wages from this to pay off his debts.
    IN this way he will be contributing to society by mining coal.

    Posted by Andrew Jackson | January 16, 2013, 8:08
  40. Dean’s wife has finally woke up she’s not a happy lady.considering MANDEAN is worth a small fortune.mostly VICTORIAN ETU STOLEN MONEY FROM THE SAFE AND MEMBERS.

    Posted by jimmy | January 17, 2013, 0:17
  41. Sounds like dean will spending a bit of time in court again this year.hopefully A.Costa will keep you company or more like conjugal visits maybe?The end is near…….

    Posted by jimmy | January 17, 2013, 0:24
  42. Have to buy some tickets for the divorce hearing, the financial settlement part will be a doozy

    Posted by Jimmysmatesmate | January 17, 2013, 7:09
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    Posted by rank tracker | January 18, 2013, 0:42
  44. This article is complete brain dead rubbish.

    While the bogus news was reported by some media – including Business Spectator, The Australian Financial Review’s website and wire service Australian Associated Press – it was never published through the ASX’s official platform.

    ”It is always risky business to trade on information that is received through the internet, blogs or some other fashion that is not a formal release through the ASX,” Tony de Govrik, the legal affairs director of the Australian Corporate Lawyers Association says.

    The ASX’s chief compliance officer, Kevin Lewis, reiterates that point, saying people whose investments are guided by official ASX announcements would have escaped Monday’s losses.

    ‘Markets often trade on the basis of rumour, speculation and other unofficial sources of information. Sometimes that information turns out to be correct and sometimes it doesn’t,” Lewis says.

    ”People who trade on the basis of information that they read online and don’t verify with official sources like the ASX market announcements platform should not expect to be able to turn around and say that the information was not correct and therefore ‘I should be able to walk away from my trade’.

    ”You have to differentiate here between investors and traders. Investors hold for the longer-term and aren’t generally going to be impacted at all by these types of short-term price spikes,” he says.

    ”The people who are affected are the day-traders and those trading in the short-term. If you are that type of trader, you need to understand the risks you are taking.”

    Buyer (in this case of information) beware perhaps? The tiny number of investors who lost by selling (without bothering to verify the erroneous reports on their favorite financial websites and blogs) is probably balanced by those who gained by buying at the bottom of the market.

    Anyone who has a grievance may well have a case against the lazy financial journalists who it seems didn’t check either with the ASX or with Moylan WHOSE CONTACT DETAILS WERE APPARENTLY INCLUDED WITH THE HOAX MEDIA RELEASE!

    The hoaxed online websites may have an action against Moylan but given their total failure to carry out due diligence what would you say their chances are?

    Other economists query the economic basis for proceeding with the Whitehaven – Maules Creek mine project at all. Rod Campbell Director of ‘Economists at Large’ had this to say in his piece for Fairfax media:

    “While investors are upset about this week’s hoax, the NSW Department of Planning and Infrastructure has been accepting economic fiction about the Maules Creek project for years.

    The 2011 economic assessment is by coal industry favourites, Gillespie Economics. Economic assessment is supposed to establish whether the project is in the interests of the people of NSW and Gillespie Economics trumpeted a net benefit of $8.7 billion for the Maules Creek project.

    This was accepted by the planning department without scrutiny.

    But our assessment of the review is scathing. Gillespie Economics has overlooked the foreign ownership of the project and presented profits to overseas interests as benefits to the NSW community. Other blunders include valuing the project at an exchange rate of $0.76 and using coal prices well above long-term averages.

    Assessment of non-market values was equally ham-fisted. No consideration was made of the coal dust from mining on health, despite medical groups and NSW Health expressing concern. Greenhouse gas emissions warranted only a minor mention.”

    Campbell concludes as follows:

    “Jittery private investors are ready to act on every piece of information available about the Maules Creek project and are angry when they’ve been mislead. But the NSW planning department seems unconcerned if the information it is given is fact or fiction.

    Economic assessment needs to play a greater role in planning decisions and be subject to the same scrutiny that emails purporting to be from ANZ are now sure to receive.”

    Do your background research Vexnews this is no more than lazy empty rhetoric.

    Posted by Doug Evans | January 19, 2013, 18:15
  45. Lets solve two problems with one stone. Move all the Rainbow Alliance Hippies and their desire for a counter culture living on the dole to Tasmania and allow it to succeed from Australia. It could sustain its economy the Amsterdam “Van Diemen’s” drug culture State and become the drug capital of the world. We could even turn it into new Jewish-home land state and solve the middle east crisis with the one stone

    Posted by Counter Culture | January 20, 2013, 6:30
  46. Send them all across the ocean to New Zeland

    Posted by Argus Tuft | January 20, 2013, 13:03
  47. How does one “succeed from Australia”?

    Please help!

    Posted by H the B | January 22, 2013, 9:21
  48. To succeed from Australia, one must join the ALP or Liberals and then devote one’s life to selling out Australians and the Australian dream to corporate interests.

    Posted by F the P | January 22, 2013, 10:25

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