Ex CEO Bill Wild has made startling allegations about Hastie Group.
Previously we alerted readers to his openly frank disclosures to The Age's reporter Adele Ferguson in Bad buys, secret losses caused Hastie downfall
This video interview with ABC TV is alarming. Bill Wild talks of "flawed strategies", "poor governance" and a "dishonest culture" at Hastie.
Let's turn up the heat before books are cooked - Beneish's M Score is a disturbing analysis of Hastie Group's accounts with a new twist.
It alleged that Hastie's accounts for the 2009 financial year would have raised a red flag, with the company's M Score being within the range deemed to be indicative of manipulation. More information on the M Score is available here and here.
Hastie Group is now being discussed in similar terms as ABC Learning, Transpacific, Centro Properties, HIH Insurance, Harris Scarfe and Clive Peeters which probably means prolonged uncertainty for all concerned.
To date there have been no rebuttals by former directors of Hastie Group.