Click on our Secret Library of Evidence ------>

    BANKILEAKS Secret Library

Loan Application Forms (LAF's)  

    Bank Emails to Brokers  

    Then Click on 'VIEW NOTEBOOK'

Join us on facebook

facebook3           facebook2 


What BFCSA Does...

BFCSA investigates fraud involving lenders, spruikers and financial planners worldwide.  Full Doc, Low Doc, No Doc loans, Lines of Credit and Buffer loans appear to be normal profit making financial products, however, these loans are set to implode within seven years.  For the past two decades, Ms Brailey, President of BFCSA (Inc), has been a tireless campaigner, championing the cause of older and low income people around the Globe who have fallen victim to banking and finance scams.  She has found that people of all ages are being targeted by Bankers offering faulty lending products. BFCSA warn that anyone who has signed up for one of these financial products, is in grave danger of losing their home.


Articles View Hits

Whistleblowers' Corner!

To all mortgage brokers, BDMs and loan approval officers! 
Pls Call Denise: 0401 642 344 

"Confidentiality is assured."

Cartoon Corner

Lighten your load today and "Laugh all the way to the bank!"

Denise Brailey

Led by award-winning consumer advocate Denise Brailey, BFCSA (Inc) are a group of people who are concerned about the appalling growth of Loan Fraud around the world. BFCSA (Inc) is a not for profit organisation in the spirit of global community concern and justice.

Click on the Cluster Map.

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

BFCSA: ANZ accused of racial bigotry towards Indian billionaires Pankaj and Radhika Oswal

Posted by on in BANKSTERS
  • Font size: Larger Smaller
  • Hits: 963
  • Print

ANZ accused of racial bigotry towards Indian billionaires Pankaj and Radhika Oswal

Sarah Danckert

1 June 2016

ANZ Bank and its senior executives, including former chief executive Mike Smith, have been accused of "racial bigotry" in their dealings with flamboyant billionaires Pankaj and Radhika Oswal.


In explosive emails between ANZ senior executive Chris Page and former CEO Mike Smith, Mr Page used a slew of derogatory terms to describe the couple, the Supreme Court of Victoria heard.

"In essence we are dealing with two very unsavoury characters," Mr Page told Mr Smith in the email.


"We are dealing with Indians with no moral compass and an Indian woman who is every bit as devious as PO (Pankaj Oswal)" Mr Page said in his email to Mr Smith.The lawyer for Mr and Mrs Oswal, Tony Bannon, said the use of the word Indian by Mr Page in the email was "derogatory".


"It is no more or less than racial bigotry," Mr Bannon said because it implied the couple "had character flaws that were essentially Indian".

"To think he could send it to the CEO of the bank without the fear of rebuke betrayed what was indeed the true culture of what was acceptable for the CEO of the bank," Mr Bannon said.  'Well done'


Rather than admonishing Mr Page for his language, Mr Bannon said Mr Smith's response showed he held similar beliefs to Mr Page.


"Chris Well done," Mr Smith told Mr Page.  "I guess we just need to keep the pressure on.  "What a bunch," Mr Smith added.


Speaking after the court hearing in Melbourne on Wednesday, a spokesman for ANZ said: "Any form of racism is unacceptable. However the comments are irrelevant to the legal merits of the Oswals case."


The sensational allegations come just days after ANZ accused recently booted Bell Potter analyst Angus Aitken as being sexist over a note to clients over the appointment of Michelle Jablko as ANZ's chief financial officer.


Earlier this year, ANZ itself was subject to allegations it fostered a toxic culture on its trading room floor that was rife with drug use, sexist behaviour and alleged misconduct.


Mr and Mrs Oswal are suing the ANZ Bank and receivers from PPB Advisory over the forced sale of their 65 per cent stake in Western Australian resources giant Burrup Fertilisers.


The Oswals allege their stake was sold for $US560 million - far less than they say it was worth. They are seeking damages of between $1.5 billion and $2.5 billion over the sale.


Separately, ANZ Bank has accused Mr Oswal of siphoning off $150 million of company funds for personal use. Mr and Mrs Oswal are also disputing a $186 million tax bill issued by the Australian Taxation Office.


The trial continues.’



Last modified on
Rate this blog entry:


  • No comments made yet. Be the first to submit a comment

Leave your comment

Guest Thursday, 02 April 2020