Fresh allegations that billionaire businessman Clive Palmer siphoned money from a bank account set up to fund operations of an iron ore port are reportedly expected to almost double the original amount.
A civil breach of trust hearing brought by the China-based Citic group starts in Brisbane’s Supreme Court tomorrow.
Police are investigating claims the Federal MP and his companies misused more than $12 million in Chinese funds from a bank account set up to fund operations of a port for iron ore exports.
“I can confirm that we have received materials on behalf of the Citic group and we have commenced to assess those materials to determine whether there has been any criminal activities,” Western Australia Police Deputy Commissioner Stephen Brown said at a WA Police Union conference in Perth.
Mr Palmer has repeatedly denied any wrongdoing.
The Australian newspaper says documents show Palmer’s company, Mineralogy, billed the Chinese government-owned companies for around $23 million over a three-year period.
Earlier this year, just days after the Federal Court heard the claims of fraud, the PUP leader reportedly attempted to repay the money to his Chinese business partners.
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