Posted by & filed under lore, News.

As reported by Daryl Passmore  in the Sunday Mail newspaper on the 25th of April 2015, the boss of the biggest branch of Bank of Queensland (BOQ)  has been branded “a cowboy’’ by a judge after taking a wheelchair-bound man’s specially adapted home as security for a business loan. The Australian Securities and Investments Commission launched proceedings against Mr Carnes and his business partner Matthew Buchanan in the wake of the Storm scandal, but dropped them after BoQ paid nearly $20 million to settle class actions by former customers last year.

Mr Passmore quoted Stewart Levitt as follows:

Lawyer Stewart Levitt, who brought the class action against BoQ, said the latest court revelations were ‘’pretty scandalous’’ and the “pattern of behaviour” at the branch exemplified ASIC’s toothlessness when it came to banks.