News National Palmer fraud could tip $23m

Palmer fraud could tip $23m

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A fraud claim against Clive Palmer could double to $23 million after the mining magnate was accused of siphoning Chinese funds to bank-roll his political campaign, a new report suggests.

Chinese state-owned company Citic has alleged the Palmer United Party leader misappropriated $12 million in funds meant for the maintenance of a port for iron-ore exports in Western Australia, but according to a report by The Australian the figure could be higher.

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According to the report, documents show Mr Palmer’s company Mineralogy billed the Chinese-owned companies $23 million over three years, with The Australian claiming little of it appeared to be spent on port management.

West Australian Police confirmed they were investigating and had been handed evidence by representatives of the Citic group.

Mr Palmer has vehemently denied the allegations, telling ABC’s 7.30 the claims of fraud against him were “untrue”.

The trial is due to begin in Brisbane’s Supreme Court on Wednesday.

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