The court has also heard critical proof concerning the efficiency of Woodlawn Capital in taking care of the fund, which dropped in worth from about $forty three million to about $30 million.
He mentioned the only ability he had acted in was "introducing people today to likely options in PNG".
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The corporate also paid out a large referral or introduction cost to sporting activities administrator Malcolm Giheno – the son of previous key minister John Giheno – in relation to the corporation attending to invest the money, Fairfax has learnt.
The revelations have emerged from a row in excess of $forty three million of PNG authorities dollars which was squirrelled absent in a small state bank branch in Lismore in northern NSW.
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Two Sydney funds administrators have demanded about $23 million in charges for 2 years operate investing Papua New Guinea taxpayer resources, a few of which dropped in price by about $ten million.