NAB - Not Off The Hook In Criminal Banking Debacle
Farmer Malcolm Taylor Takes on NAB In David Vs Goliath Battle
Summary:
NAB was facing a massive loss on a company it had funded. The company was trading insolvent and was soon to default and likely go bankrupt. So how did NAB manage its exposure and risk? Well it did what any crime syndicate would do. It found a victim with assets - a farmer - Malcolm Taylor - and then by using fraud and deception got Malcolm to borrow against his farms to purchase the doomed company. A shocking case illustrating how NAB operates.
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