Firepower International
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Firepower International was a fraudulent company that advertised as a
Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...
-based company owned and operated by Global Fuel Technologies Ltd, specializing in technology purporting to reduce the fuel consumption and environmental impact of petrol-operated vehicles. There were other offices in
Sydney Sydney ( ) is the capital city of the state of New South Wales, and the most populous city in both Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Sydney Harbour and extends about towards the Blue Mountain ...
, China,
Rhodes Rhodes (; el, Ρόδος , translit=Ródos ) is the largest and the historical capital of the Dodecanese islands of Greece. Administratively, the island forms a separate municipality within the Rhodes regional unit, which is part of the So ...
,
Athens Athens ( ; el, Αθήνα, Athína ; grc, Ἀθῆναι, Athênai (pl.) ) is both the capital and largest city of Greece. With a population close to four million, it is also the seventh largest city in the European Union. Athens dominates ...
and
Papua New Guinea Papua New Guinea (abbreviated PNG; , ; tpi, Papua Niugini; ho, Papua Niu Gini), officially the Independent State of Papua New Guinea ( tpi, Independen Stet bilong Papua Niugini; ho, Independen Stet bilong Papua Niu Gini), is a country i ...
, according to the now-defunct official company website. However, "in reality it was a handful of people in an industrial estate in
Perth Perth is the capital and largest city of the Australian state of Western Australia. It is the fourth most populous city in Australia and Oceania, with a population of 2.1 million (80% of the state) living in Greater Perth in 2020. Perth is ...
", who were conducting a complex of fraudulent operations.Sheehan
"Truth almost as sordid as the lies"
''Sydney Morning Herald'' 4 May 2009
The original entity—Firepower Operations Pty Ltd—was a A$1 company, first registered in December 2004, owned by Firepower Holdings Group Ltd, a company with an address in the British Virgin Islands.Ryle

''Sydney Morning Herald'' 8 January 2007
Through connections created with Australian federal ministers, trade officials and their networks, the governments of
Britain Britain most often refers to: * The United Kingdom, a sovereign state in Europe comprising the island of Great Britain, the north-eastern part of the island of Ireland and many smaller islands * Great Britain, the largest island in the United King ...
,
Russia Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...
,
Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...
and many others were persuaded to believe Firepower offered important solutions to
global warming In common usage, climate change describes global warming—the ongoing increase in global average temperature—and its effects on Earth's climate system. Climate change in a broader sense also includes previous long-term changes to E ...
and the
peak oil Peak oil is the hypothetical point in time when the maximum rate of global oil production is reached, after which it is argued that production will begin an irreversible decline. It is related to the distinct concept of oil depletion; while ...
energy crisis. However, after questions were raised about the efficacy of the "Firepower Pill" and related products in reducing engine
fuel consumption A fuel is any material that can be made to react with other substances so that it releases energy as thermal energy or to be used for work. The concept was originally applied solely to those materials capable of releasing chemical energy but ...
, the Firepower organisation's principal, Tim Johnston, was claimed by media critics to have perpetrated a large-scale
confidence trick A confidence trick is an attempt to defraud a person or group after first gaining their trust. Confidence tricks exploit victims using their credulity, naïveté, compassion, vanity, confidence, irresponsibility, and greed. Researchers have def ...
or scam and became the subject of investigation by the
Australian Securities and Investments Commission The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to pro ...
(ASIC)."08-163 ASIC launches action in relation to fuel technology company"
''
Australian Securities and Investments Commission The Australian Securities and Investments Commission (ASIC) is an independent commission of the Australian Government tasked as the national corporate regulator. ASIC's role is to regulate company and financial services and enforce laws to pro ...
'' 21 July 2008
In July 2011, ASIC banned Johnston from managing any company for twenty years."11–148MR Former Firepower chairman banned for 20 years"
''at Australian Securities and Investments Commission'' 21 July 2011
"ASIC bans Firepower boss for 20 years"
ABC News


Firepower Pill

Firepower International's main product was the Firepower Pill, advertised as being able to "lower fuel consumption, reduce emissions, ndclean and maintain your engine"."Firepower pill"
Promotional claims on company's website
The product was claimed to work by "burning more of the heavier elements of your fuel, increasing power and fuel economy" and because more of the fuel is consumed in the combustion process,
hydrocarbon In organic chemistry, a hydrocarbon is an organic compound consisting entirely of hydrogen and carbon. Hydrocarbons are examples of group 14 hydrides. Hydrocarbons are generally colourless and hydrophobic, and their odors are usually weak or ex ...
and carbon-dioxide emissions are lowered. Inserted into a vehicle's fuel tank, a single Firepower Pill was advertised as being able to treat up to 60 litres of petrol. Elsewhere, a larger pill was advertised, claimed to be able to treat 200 litres of petrol or diesel.


Government involvement

The Australian government became involved in the scam in a number of ways—through defence-force agencies and personnel, through the export agency
Austrade The Australian Trade and Investment Commission, or Austrade ( ), is the Australian Government's trade, investment and education promotion agency which was also given responsibility for tourism policy, programs and research from 2013. Austrade ...
and directly through successful lobbying of federal minister for science
Julie Bishop Julie Isabel Bishop (born 17 July 1956) is an Australian former politician who served as Minister for Foreign Affairs from 2013 to 2018 and deputy leader of the Liberal Party from 2007 to 2018. She was the Member of Parliament (MP) for Curtin ...
and Prime Minister
John Howard John Winston Howard (born 26 July 1939) is an Australian former politician who served as the 25th prime minister of Australia from 1996 to 2007, holding office as leader of the Liberal Party. His eleven-year tenure as prime minister is the s ...
. Johnston reportedly promised significant donations to the
Liberal Party The Liberal Party is any of many political parties around the world. The meaning of ''liberal'' varies around the world, ranging from liberal conservatism on the right to social liberalism on the left. __TOC__ Active liberal parties This is a li ...
and an attempt was made to secure a funding grant from the government's A$500-million Low Emission Technology Demonstration Fund. A related Firepower entity, TPS Firepower, received almost A$400,000 in export grants from the government.
The fraud could not have continued for so long, or become so large, had it not been for the crucial intervention of Austrade. Somebody at the trade commission, probably someone junior, failed to make a rudimentary verification of any of the grandiose claims Johnston was making. Austrade took on Firepower as a client and opened doors to contacts around the world through Australian embassies. Over time, Firepower received $394,000 in grants under the Export Market Development Grants scheme. A senior Austrade manager, John Finnin, was recruited by Johnston as his chief executive. The senior trade commissioner at the Australian Embassy in Moscow, Gregory Klumov, was recruited to run Firepower's Russian operation. For years, Johnston was able to wrap himself in the credibility of government patronage.


Sporting sponsorship

At its height, Firepower was one of Australia's biggest sporting sponsors. Under the company's mounting debts, commitments were reneged upon, leaving sporting teams struggling with financial pressures. The
Sydney Kings The Sydney Kings are an Australian men's professional basketball team competing in the National Basketball League (NBL). The team is based in Sydney, New South Wales. The Kings were formed from a merger between the West Sydney Westars and the ...
, an Australian basketball franchise part-owned by Tim Johnston, ceased to exist because of the collapse of Firepower. Kings players were owed large sums in unpaid wages and superannuation—a figure quoted at A$265,073. The Perth-based
rugby union Rugby union, commonly known simply as rugby, is a close-contact team sport that originated at Rugby School in the first half of the 19th century. One of the two codes of rugby football, it is based on running with the ball in hand. In its m ...
team
Western Force The Western Force is an Australian professional rugby union team based in Perth, Western Australia, currently competing in Super Rugby Pacific. They previously played in Super Rugby from 2006 until they were axed from the competition in 2017. ...
was promised millions of dollars in funding which failed to materialise, causing loss of contracted players, notably
Matt Giteau Matthew James Giteau (born 29 September 1982) is an Australian rugby union professional player who is playing with the LA Giltinis of Major League Rugby (MLR). Giteau joined the Giltinis after a short playing stint with the Gungahlin Eagles in t ...
.Magnay J and Ryle
"The game's almost up for Firepower"
''Rugby Heaven website'' 28 May 2008
In 2006, the
rugby league Rugby league football, commonly known as just rugby league and sometimes football, footy, rugby or league, is a full-contact sport played by two teams of thirteen players on a rectangular field measuring 68 metres (75 yards) wide and 112 ...
team
South Sydney Rabbitohs The South Sydney Rabbitohs are a professional Australian rugby league Rugby league football, commonly known as just rugby league and sometimes football, footy, rugby or league, is a full-contact sport played by two teams of thirteen pla ...
was bought by business partners
Russell Crowe Russell Ira Crowe (born 7 April 1964) is an actor. He was born in New Zealand, spent ten years of his childhood in Australia, and moved there permanently at age twenty one. He came to international attention for his role as Roman General Maxi ...
and
Peter Holmes à Court Peter Holmes à Court (born 1968) is an Australian businessman. He is the eldest son of the late billionaire businessman Robert Holmes à Court and Janet Holmes à Court. He was well known as a joint owner of the National Rugby League team South ...
. On 5 November that year, Russell Crowe appeared on ''
The Tonight Show with Jay Leno ''The Tonight Show with Jay Leno'' is an American late-night talk show hosted by Jay Leno that first aired from May 25, 1992, to May 29, 2009. It resumed production on March 1, 2010 and ended on February 6, 2014. The fourth incarnation of the ...
'' and announced that Firepower was sponsoring South Sydney Rabbitohs for A$3 million over three years. Crowe showed viewers a Rabbitohs jersey with Firepower's name on it. In a press release, Peter Holmes à Court announced
Russell and I have been particularly keen to take the club forward in a socially responsible fashion and Firepower certainly fulfils that criteria. Firepower is an Australian success story—operating in over 50 countries globally and currently expanding rapidly into new markets. Firepower is an emerging brand that is already a global leader in its category.


Controversy and demise

After an abortive plan (aided by the Australian government in October 2006Ryle
''Firepower: The most spectacular fraud in Australian history''
Allen & Unwin, Sydney 2009.
) to establish headquarters in
Switzerland ). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...
, the group's founder and chief executive, Tim Johnston, moved to the United Kingdom where his whereabouts were concealed for almost two years until he was located in London by ''
The Australian ''The Australian'', with its Saturday edition, ''The Weekend Australian'', is a broadsheet newspaper published by News Corp Australia since 14 July 1964.Bruns, Axel. "3.1. The active audience: Transforming journalism from gatekeeping to gatew ...
'' newspaper.


Corporate charges

In 2007, Firepower came under investigation by The Australian Securities and Investments Commission over raising "$60 million without adequate financial disclosures to investors". ASIC sought court orders to have Johnston, who left
New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island count ...
in controversial circumstances in the mid-1990s, banned from operating companies in Australia. On 21 July 2008, ASIC also filed an action in the
Federal Court of Australia The Federal Court of Australia is an Australian superior court of record which has jurisdiction to deal with most civil disputes governed by federal law (with the exception of family law matters), along with some summary (less serious) and indic ...
against companies associated with Gordon Hill, Warren Anderson, Leslie Stein (Sattvic Pty Ltd) and financial adviser Quentin Ward, who is believed to have sold more than A$40 million of the shares in Perth. Ward was subsequently banned from managing a company for six years. Anderson's company Owston Nominees was alleged to have been issued 40 million one-cent shares in Firepower's
Virgin Islands The Virgin Islands ( es, Islas Vírgenes) are an archipelago in the Caribbean Sea. They are geologically and biogeographically the easternmost part of the Greater Antilles, the northern islands belonging to the Puerto Rico Trench and St. Croix ...
-based parent company Firepower BVI in June 2005, which were onsold for up to 50c a share.Perpitch
"Anderson linked to Firepower collapse"
''Sydney Morning Herald'' 4 September 2008 (BusinessDay)
In March 2010, it was reported that former
Western Australia Western Australia (commonly abbreviated as WA) is a state of Australia occupying the western percent of the land area of Australia excluding external territories. It is bounded by the Indian Ocean to the north and west, the Southern Ocean to th ...
state
Labor Labour or labor may refer to: * Childbirth, the delivery of a baby * Labour (human activity), or work ** Manual labour, physical work ** Wage labour, a socioeconomic relationship between a worker and an employer ** Organized labour and the labour ...
government minister Gordon Hill, facing a A$5 million lawsuit, had declared
bankruptcy Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...
.


Product doubts

There were also questions over whether the Firepower Pill worked as advertised.Ryle
"Little fuel booster shoots for the stars"
''Sydney Morning Herald'' 8 January 2007
Commentators pointed to the refusal of Firepower to give detailed information about how the pill functioned and similarities between the Firepower Pill and the FE-3 pill, which had been independently proven not to increase vehicle performance. The Firepower Pill was tested for effectiveness by the former
Western Australia Western Australia (commonly abbreviated as WA) is a state of Australia occupying the western percent of the land area of Australia excluding external territories. It is bounded by the Indian Ocean to the north and west, the Southern Ocean to th ...
n Department of Consumer and Employment Protection.Walker P (Western Australian Commissioner for Consumer Protection
"Focus on clean and green claims about vehicle fuel saving and emission reducing devices and additives"
''Statement'' 13 March 2008
The investigation "raised some real concerns about the validity of claims ... that Firepower made n the packagingin support of the fuel saving and emission reducing properties of the Firepower Pill". In light of this, the department ordered that the Firepower Pill be withdrawn from sale in Western Australia, together with other purported fuel-saving devices whose advertised claims were not substantiated. In response, Firepower claimed many notable organizations used its product - including the Australian and New Zealand military forces and a
V8 supercars The Supercars Championship is a touring car racing category in Australia, running as an International Series under Fédération Internationale de l'Automobile (FIA) regulations, governing the sport. Supercars events take place in all Australian ...
team, despite the fact that no
fuel additives A fuel is any material that can be made to react with other substances so that it releases energy as thermal energy or to be used for work. The concept was originally applied solely to those materials capable of releasing chemical energy but ...
are allowed by V8 Supercar regulations. The claims were denied by those named. Firepower also claimed to its shareholders that it was taking part in joint ventures with
Shell Shell may refer to: Architecture and design * Shell (structure), a thin structure ** Concrete shell, a thin shell of concrete, usually with no interior columns or exterior buttresses ** Thin-shell structure Science Biology * Seashell, a hard o ...
and
General Motors The General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. It is the largest automaker in the United States and ...
—claims that both companies refuted.


Damning documents found on computer

On 28 February 2009, ''
The West Australian ''The West Australian'' is the only locally edited daily newspaper published in Perth, Western Australia. It is owned by Seven West Media (SWM), as is the state's other major newspaper, ''The Sunday Times''. It is the second-oldest continuousl ...
'' newspaper announced that "Thousands of internal Firepower documents have been discovered in a computer abandoned by the disgraced fuel technology firm before its multi-million-dollar collapse in 2007".Adshead G and Cowan S "Discarded computer secrets reveal Firepower's turmoil" ''The West Australian'', 28 February 2009, pp. 6-7 The computer, believed to have been the
internet server In computing, a server is a piece of computer hardware or software ( computer program) that provides functionality for other programs or devices, called " clients". This architecture is called the client–server model. Servers can provide var ...
for all the computers in Firepower's Perth office, had no
hard drive A hard disk drive (HDD), hard disk, hard drive, or fixed disk is an electro-mechanical data storage device that stores and retrieves digital data using magnetic storage with one or more rigid rapidly rotating platters coated with magnet ...
but contained 3
SCSI Small Computer System Interface (SCSI, ) is a set of standards for physically connecting and transferring data between computers and peripheral devices. The SCSI standards define commands, protocols, electrical, optical and logical interface ...
interface storage devices which had captured "thousands of emails and other documents including being sent to and from Tim Johnston, his executives and office staff". It was one of five hardware items purchased at auction for A$40 by local
Internet café An Internet café, also known as a cybercafé, is a café (or a convenience store or a fully dedicated Internet access business) that provides the use of computers with high bandwidth Internet access on the payment of a fee. Usage is generally ...
owner Mr Henk Beugelaar. The documents included: * company cheque butts, including one recording a A$10,000 "gift" to the President of Pakistan, General
Pervez Musharraf General Pervez Musharraf ( ur, , Parvez Muśharraf; born 11 August 1943) is a former Pakistani politician and four-star general of the Pakistan Army who became the tenth president of Pakistan after the successful military takeover of the ...
* evidence that the Howard government was complicit in official high-level backing of Firepower products through
Austrade The Australian Trade and Investment Commission, or Austrade ( ), is the Australian Government's trade, investment and education promotion agency which was also given responsibility for tourism policy, programs and research from 2013. Austrade ...
offices * evidence of the company's constant quest for connections with high-ranking government and military officials to get deals done and acknowledgement that such consultants needed to be "looked after"


Federal Court action

Firepower's Australian operations were put into liquidation in early July 2008 in the Federal Court of Australia, followed by the British Virgin Islands arm in late September. The action was commenced by the company's own lawyers over a debt of A$70,000 and joined by mining magnate Ross Graham, who had lent Johnston A$25 million. The liquidator, Bryan Hughes reportedly believes the company traded while insolvent from 22 July 2007Cowan
"Bid to rein in Firepower chief"
''West Australian'' p.3, 5 November 2009
and that "Johnson had stashed up to A$38 million in overseas bank accounts and was planning to use the money to build a replica company called Green Power Corporation". Firepower Operations estimated that, in July 2008, it owed more than A$16 million to various creditors, investors and groups it had sponsorship deals with.Magnay J and Ryle

''Sydney Morning Herald'' 25 July 2008


Australian Securities and Investments Commission

Warren Anderson's company Owston Nominees No 2 was the subject of a court action launched by ASIC, which claims it sold Firepower shares to small investors without giving them a prospectus, making a A$20-million windfall. Anderson publicly urged Johnston to face his accusers. On 8 February 2011, ASIC's proceedings against Owston and other respondents were successful, the Federal Court finding that declarations and publicity orders were an appropriate form of relief for the contraventions of s727(1) of the orporationsAct."11-22AD Decisions in ASIC's proceedings against parties associated with fuel technology company"
''at Australian Securities and Investments Commission'' 8 February 2011
On 18 August 2011, ASIC succeeded in obtaining a similar determination and Federal Court orders against Sattvic Pty Ltd, the company operated by Leslie Stein. In September 2014, ASIC announced that it had finalised its investigation.
Following ASIC’s inquiries, a brief of evidence was forwarded to the CDPP for consideration. Having regard to the evidence obtained by ASIC, the CDPP has recently informed ASIC that it is not satisfied there are reasonable prospects of a conviction, as is required under the Prosecution Policy of the Commonwealth to enable a prosecution to be commenced.


Return of Johnston to Australia

Because Johnston was never charged with fraud, ASIC lacked the necessary criminal-law basis for pursuit of his extradition to face charges in Australia. He simply had to stay out of the country to avoid facing shareholders. However, on 2 November 2009, Johnston openly returned to Australia, reportedly to see family members. On 5 November, he was ordered by the Federal Court not to leave the country, to surrender passports and to appear in a Perth court on 26 November. The injunction was served on Johnston at his
Gold Coast Gold Coast may refer to: Places Africa * Gold Coast (region), in West Africa, which was made up of the following colonies, before being established as the independent nation of Ghana: ** Portuguese Gold Coast (Portuguese, 1482–1642) ** Dutch G ...
mansion. Johnston surrendered two passports but failed to make the court appearance, citing a heart condition and fears for his personal safety. The hearing was adjourned and arrangements made for him to appear by video link from Queensland. It has also been alleged that Johnston sought to rehabilitate his reputation while in England and facilitate continuing fraudulent actions, by use of a purported letter from ASIC which declared: "Our findings based on credible and confidential information obtained by this office, Indicates (sic) that you have acted appropriately and in accordance with the Corporate Guideline Act and therefore this office no longer finds you a person of interest in this matter." However, an ASIC spokeswoman disclaimed the existence of a "Corporate Guideline Act". On 8 December 2009 Johnston faced the Federal Court in Perth and was examined by the liquidator, Bryan Hughes. On his way into the court room he was served with legal documents and a summons before proceedings even started. He was examined in detail over various financial transactions, including family travel payments and transactions surrounding the purchase of his Mosman Park mansion and claimed that he was forced to buy the property by his close friend and occasional antagonist Warren Anderson. In earlier evidence he claimed that Anderson forced him to pay A$4 million into Anderson's family company, Owston Nominees, then received a loan from Owston Nominees the following day to the value of A$5.8 million to allow the purchase of the property. Johnston was accompanied later in the day by his wife Sandra and two daughters. Sandra Johnston had fled to Bali after the seizure of Johnston's passports, concerned at her own potential liability due to her position as a company director between 2005 and 2008. She stayed in the Nusa Dua Asmara cliffside villa built by Gordon Hill when he was a director of Firepower and purchased with Firepower funds. While at the villa she was allegedly intimidated by tattooed men and mystery packages. Johnston told the court that he was personally threatened by Anderson, who had used "particular people" to intimidate him."Firepower CEO told to dig own grave: court"
''Sydney Morning Herald (BusinessDay)'' 20 Jan 2010 (attributed to AAP)


Other court proceedings


Ross Graham

In 2008, mining entrepreneur Ross Graham, obtained a
Western Australian Supreme Court The Supreme Court of Western Australia is the highest state court in the Australian State of Western Australia. It has unlimited jurisdiction within the state in civil matters (although it usually only hears matters involving sums of A$750,0 ...
order for immediate payment of over A$12 m in respect of a personally guaranteed loan. Graham proposed to commence bankruptcy proceedings if the amount was not paid, but acknowledged that he is unlikely to recover any of the money.


IMF (Australia)

It has been estimated that Australian "mum-and-dad" investors were shorn of A$100 million by a small number of entrepreneurial investors and professional advisors with inside contacts who purchased Firepower shares at a very low price for on-selling to others at much higher prices. On 3 June 2009, ''The West Australian'' newspaper announced that "Former WA police minister Gordon Hill has become the first target of investors trying to recover their money from the wreckage of failed fuel technology company Firepower after he was hit with a $5 million lawsuit yesterday".Cowan S "Firepower investors launch $5m legal bid" ''The West Australian'', 3 June 2009, p 1 The Supreme Court writ was filed on behalf of 79 investors by lawyers for litigation funder IMF (Australia). Investors paid for shares in Firepower Holdings Limited (registered in the Cayman Islands) but were given shares in Firepower Holdings Group Limited (registered in the British Virgin Islands). The report added that other dealers were expected to be targeted, including the private companies of property tycoon Warren Anderson and Sydney lawyer Les Stein, both of whom were heavily involved in Firepower. IMF managing director Hugh McLernon said "We will probably look at recovering about $40 million but I would be thinking that we would be battling to do much more than that." On 17 September 2010, IMF lodged a second WA Supreme Court writ on behalf of 242 Firepower investors seeking more than A$5 million from Les and Miriam Stein and their family company Sattvic; up to A$26 million from Fremantle lawyers Matthew Morgan and Stefan Alteruthemeyer and their company Maclma; and about A$8 million from the
National Australia Bank National Australia Bank (abbreviated NAB, branded nab) is one of the four largest financial institutions in Australia (colloquially referred to as "The Big Four") in terms of market capitalisation, earnings and customers. NAB was ranked 21st-la ...
. A press report cited IMF's investment manager Paul Rainford as planning a third action against a Singapore company with the goal of recovering a total of A$60 million through the three lawsuits. IMF had decided not to pursue either Johnston or Anderson because of their likely financial incapacity. Johnston declared bankruptcy in 2011. On 19 May 2012 liquidator Pitcher Partners said they would no longer pursue Johnston, with managing director Bryan Hughes claiming he was still owed over $100,000 for the investigation. Mr Hughes said forensic accountants Worrells Solvency & Forensic Accountants had approached all creditors including himself seeking further funds."Lack of money ends Firepower investigation"
ABC 20 May 2012, accessed 20/5/12


See also

* Gasoline pill


References


External links


Gerard Ryle's archive on Firepower

Documents and articles relating to Firepower
at Yahoo News

{{Business in Australia Companies based in Perth, Western Australia