Clive Palmer’s lawyer ‘misplaced’ $2.5m in gold bullion, court told

5 days ago 4

Clive Palmer’s former long-serving lawyer, who the mining magnate accused of stealing $30 million, gave more than $2.5 million in gold bullion to someone for “safekeeping”, but does not know where it is, a court has heard.

Sam Iskander allegedly stole tens of millions of dollars from the former federal MP and Trumpet of Patriots chairman while representing the billionaire in his legal matters through his firm, Alexander Law.

Palmer launched legal action against Iskander last month, alleging money had been stolen from his mining company, Mineralogy, since 2016, after an audit of Palmer’s legal bills uncovered discrepancies.

Clive Palmer, Trumpet of Patriots chairman and party spokesperson.

After the allegations were aired, Iskander surrendered his practising certificate, with the Queensland Law Society confirming he was no longer in practice.

Sam Iskander represented Clive Palmer in numerous cases.

He then consented through his legal counsel, John Sneddon, in the Supreme Court to account freezing and injunctive orders.

In a hearing for the case in the Supreme Court on Wednesday, Palmer’s barrister, Brian O’Donnell KC, said Iskander knew the freezing order application was coming.

“And the day before the matter was to come on, he makes arrangements to put all these easily relocatable assets out of reach, in a location he says he does not know ... it’s very concerning for the plaintiffs that this has come out,” he said.

Sneddon appeared for Iskander in court in a bid to increase his allowance and access to his frozen assets. He said he had been instructed by Iskander to oppose previous directions regarding identifying his assets.

The exact directions against Iskander have not been read out in court, but Sneddon said his client had been compliant.

“He has complied with the affidavit, which was to identify the assets and his knowledge of the whereabouts, and he has said he has done that,” Sneddon said.

Justice Melanie Hindman replied: “That’s a really hard submission. I mean, you’re making submissions based on instructions, but he is also a solicitor.

“And the idea that he would swear on an affidavit that says, ‘yes, I’ve given over $2.5 million worth of gold bullion to someone for safekeeping, very recently, but I don’t know where it is’, and not say who he’s given it to, in circumstances where the court has made freezing orders, is abundantly obviously unacceptable.”

The court heard the parties were still awaiting a forensic accountant’s report in the case.

At an earlier hearing, Hindman described the allegations that Iskander had altered invoices as “extremely serious”. In one invoice, a fee for work was allegedly amended from $7500 to $20,625.

Hindman said it was a very significant difference in just one item, and so the estimate that $30 million had been allegedly stolen was not unreasonable.

Iskander had represented Palmer as recently as January, filing documents in the High Court as part of the mining magnate’s legal action against the Commonwealth of Australia, in a dispute over the registration of his United Australia Party.

Iskander’s case remains before the Supreme Court.