Sinodinos Stands Aside

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The Assistant Treasurer, Senator Arthur Sinodinos, has stepped down from his position on the front bench following corruption allegations.

Senator Arthur Sinodinos

Earlier this week, the Labor Party called for the Senator to step aside due to his involvement in a corruption inquiry looking into Australian Water Holdings (see: Corruption Claims Threaten to Overshadow FoFA Amendments).

The Senator confirmed today he would stand aside as Assistant Treasurer while the inquiry process was underway. Making the announcement during Parliament today, Senator Sinodinos said: “I do not want this sideshow to be an unnecessary distraction to the important work of the Government which I am proud to serve.”

He thanked his colleagues for their ongoing support, and said he would answer questions on the matter in the appropriate forum, being the ICAC hearings.

Senator Sinodinos has been called as a witness by the NSW Independent Commission Against Corruption as part of its investigation into Australian Water Holdings. In 2008, Senator Sinodinos was the Treasurer of the NSW branch of the Liberal Party, and was also a director of AWH, with a 5% equity share in the company.

Senator Mathias Cormann, the Minister for Finance and former Shadow Minister for Financial Services and Superannuation, will take up the role of Acting Assistant Treasurer.

 



2 COMMENTS

  1. What a shock and disappointment. I make no judgement about this situation as the truth will reveal itself in due time but the impression I’ve had of Arthur for our industry and the good will of financial service clientele is one of honour, professionalism and integrity. I find it absolutely laughable though that the ALP has the gall to throw stones from its glass house of integrity (particularly in Question Time today).

  2. Here we see the difference between the current government and the past Labor one.
    Arthur is accused of association via a shareholding of a company and within a very short space of time voluntarily stands aside pending the ICAC review.
    Contrast this with Mr Thompson of the Labor / union movement who hung on like a bad smell/hangnail for years so the prior Government could hang onto office for an extra year or two and just this past few days we learn that Mr Thompson was found guilty – not alledged but proclaimed guilty after judicial review – on around 64 different counts of fraud/using union funds for various nepharious activities – which are a real offence to all Australians on all sides of politics.
    Lets hope the sensible AS amendments to FOFA & other inefficient Labor legislation can proceed without him until he returns to office.

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