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Aussie Home Loans CEO Accused of Lying in the US

Posted by on in BANKSTERS
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Old news but, as the saying goes, "If you can't be trusted with the little things, how can you be trusted with the big things?"

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THE head of one of Australia's largest mortgage brokers has been accused of misleading a US judge.

A letter from US attorneys Roedre, Cochran & Haight claims Aussie Home Loans director and chief executive Stephen Porges and his US technology company Imbros failed to provide all relevant information during arbitration heard in 2005.

The letter was written on behalf of inventor Keith Benson and his Adelaide company Newcom Holdings and sent to arbitrator Richard Huffman.

It alleges Mr Porges and Imbros misled a US Federal Court when turning over four boxes of documents relating to patents and licences about the identification and authentication of mobile users for third party applications - the heart of today's mobile technology and the backbone of tomorrow's secure e-commerce applications.


"Porges further testified that Imbros did not have any further documents to provide and suggested that if there had been any more documents, they were stolen in a break-in at the Imbros corporate offices," the letter says.

"Subsequent events have demonstrated that Mr Porges's testimony was false and misleading."

A further 86 boxes of material were produced by South Australian lawyers representing Mr Porges or Imbros as part of a discovery process in a 2009 Supreme Court matter.

Mr Porges and Mr Benson could not comment due to the confidentiality of arbitration but Mr Porges said: "Having a relatively high profile, my name and ethical business practices are very important to me."

It is understood Imbros, the present owner of the technology, agreed to transfer patents to Mr Benson for $US1 million as part of the arbitration but this agreement collapsed when he paid only $US150,000.

Mr Benson's claims are the latest round in a decade-old dispute.

Imbros purchased the patents in 2002 when a company controlled by Mr Benson was liquidated, a process marred by claims of hostile takeovers and disputes about use of funds.

A 2005 Virginia District Court decision confirmed Imbros had clear title to certain patents.

Binding arbitration on the matter is scheduled to continue in June.

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  • doyla66
    doyla66 Tuesday, 04 September 2012

    You're so right, STM.
    Being careless with the truth is an attitude and becomes a habit.
    Being deliberately deceptive and misleading is even worse.
    What a bad ad for all the decent Aussies.
    Shame on him!!

  • doyla66
    doyla66 Tuesday, 04 September 2012

    reads more like "Aussie Home Lies"?

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