Queensland police to investigate transfer of houses from Aboriginal cooperative

Asic also investigating if there was any breach of directors’ duties in the transfer to a private company

Queensland police say they will continue their inquiries into the circumstances surrounding the transfer of 37 properties in Toowoomba valued at $6.2m from a non-profit Aboriginal cooperative to a private company which then mortgaged the assets multiple times before defaulting on the debts incurred.

After an emergency meeting with a group of affected residents on Tuesday, Insp Stephen Angus of the Toowoomba local command confirmed on Wednesday police inquiries into the matter will continue to determine whether fraudulent activities have occurred.

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from World news | The Guardian https://ift.tt/2Hi6RDg