The ABC has interviewed the person who’s suing a leading insurance company for its alleged role in a massive scheme to cover up the cost of coronavirus coverage
ABC News has interviewed a senior insurance executive who says he was part of a team at the major insurer that helped cover up $200 million of fraudulent claims and cover-up costs for more than 1,000 people.
The man is the head of the Australian Insurance Commission’s corporate fraud and breach of trust unit and has been charged with fraud offences relating to the fraud that resulted in the largest payout ever paid out to a former employee.
ABC News interviewed the man who was charged in court last year as he was being questioned by the Federal Court about the fraud and cover up.
It is alleged the person working for the Australian Securities and Investments Commission and the company he is alleged to have been part of the team that worked on the scheme to help cover up fraud costs at the Commonwealth Bank.
In his statement to the court, the person is said to have said the scheme was “the largest fraud ever committed by the Australian insurance industry”.
“It is very clear that I was a part of it, because I knew the company involved, and they were the only ones who could have known about it,” he said.
He said he was the only one who knew that the company was the largest and was aware of the fraudulent charges.
“I did not know what was going on,” he was quoted as saying.
At the time, Mr Morrison was the treasurer and CEO of Commonwealth Bank, the largest bank in Australia and the Commonwealth’s largest shareholder.
His statement to court was the first of a series of statements the man has made to the Federal and Queensland courts, in a bid to prove his innocence.
Mr Morrison has been contacted by the ABC, and the ABC has agreed not to use the man’s name.
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