One of six people charged in a complex mortgage and investment fraud case has pleaded guilty to four charges of obtaining by deception. The plea follows a Serious Fraud Office investigation that began in 2020 after a referral from Police. The person, whose name is currently suppressed, was charged alongside Gerard Peters, Robert Peters, and three other people who can’t be identified yet. The person’s admission – that they provided misleading information to their bank as part of a 2018 loan application – marks a pivotal step in the investigation, the SFO said. It alleged the defendants engaged in a scheme to obtain credit and properties by making false claims on home loan applications and to conveyancing solicitors. In total, they are alleged to have obtained more than $8.6m in lending and attempted to obtain another $3m. The person will be sentenced on August 14.
The 2024 Federated Farmers-Rabobank Farming Salaries Report indicates substantial growth in farm salaries despite recent industry challenges. Released yesterday, the report highlights an average farm worker salary increase of $7480 to $71,411 since 2022. The survey, encompassing data from 529 farm employers and nearly 1800 employees, shows a 13% rise in the weighted average salary across various on-farm positions. Notably, dairy herd managers, sheep and beef farm managers, and arable farm managers have seen salary increases of 19%, 22%, and 28% respectively. Total package values, including benefits such as vehicle use and allowances, also showed strong growth. The latest BDO Business Wellbeing Index report illustrated the agribusiness sector was showing resilience and a more positive outlook, possibly due to favourable conditions in dairy pricing.