Documents show the Perth Mint potentially breached commodity regulations in 23 US states, but did not publicly reveal the scale of the concerns.
"On those occasions where prosecutions have arisen from failure [to follow the law] there has been fraud. The opposite is not true.
However, the new documents reveal the scale of the potential breaches, and the risks taxpayers faced. The mint estimated it could lose between USD $1.6 million and $3.5 million a year if those clients were to "exit".That same document details how Perth Mint's Depository Service began in 1994, with high-net-worth individuals, who were recorded "off-system in paper ledger books for privacy reasons" and by 1998 there were about 150 clients using the service.
"Government bodies should be held to a higher standard because they operate with the trust of the community, and the entire state's reputation is on the line," he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Man charged after teen fell to his death on Perth worksite tells court safety and management of staff not his jobA man charged over the death of a teenager at a worksite in Perth has gone on trial, arguing worker safety was not his responsibility.
Read more »
Ada was sexually assaulted at 83 years old in a Perth aged care home. And no one believed herAda Brown was 83 years old when she alleged she was sexually assaulted and her Perth aged care home tried to sweep it under the rug. Now, shocking new national data shows her trauma was far from an isolated incident.
Read more »
'A system in chaos': Man on remand spends 15 days in isolation and solitary in Perth jailA Perth man on remand is forced to spend more than two weeks in isolation and solitary confinement at Casuarina Prison, due to staffing issues and COVID-19 restrictions.
Read more »
Equipment that crippled Sydney train network ‘obsolete’ for more than a yearExclusive: Senior transport officials warned a year ago that parts of a critical digital system that failed last Wednesday, shutting down the entire Sydney rail network, were obsolete, government documents reveal
Read more »
Jobs data could force RBA rate pause in AprilEconomists expect Thursday’s jobs figures to reveal that 50,000 people found work in February.
Read more »
‘I was trying to win’: The pokies binge that left two people and unborn twins deadCourt files reveal countless examples of a connection between gambling addiction and criminal acts, but not even the criminals themselves know what came first.
Read more »