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Star Sydney Processed AU$900M of Suspicious Chinese Transactions

The Star Sydney saga continues as public hearings on the company’s dealings continue to unearth new information. In this latest development, Star’s assistant group treasurer, Paulina Dudek, admitted to having deceived the National Australia Bank about AU$900m worth of transactions from suspicious Chinese sources.

On the first day of the trial hearings, Dudek admitted to deceiving the National Accounting Board. When the NAB initially questioned Dudek about the questionable activities, she stated that the money had been used to pay for “hotel accommodations”. A total of 156 distinct casino banking transactions conducted by China UnionPay using credit cards totaled AU$900 million ($664.2 million), according to the evidence presented.

Assisting counsel Naomi Sharp, SC, queried Dudek on her familiarity with AML (anti-money laundering) and counter-terrorism regulations. Dudek stated that she only had basic knowledge in that field.

Dudek further testified that she only learnt of the sum of transactions processed a year after joining the company as an assistant group treasurer. Dudek was appointed to the role in the spring of 2019.

In her argument, Dudek claimed that she had no role in these actions and that, although knowing that top management was participating, she was unable to call out a practice at the corporation that had “been in place for a very long time.”

Title : Star Sydney Processed AU$900M of Suspicious Chinese Transactions

Published Date : 28th March 2022

Author : John Williams