The liquidator of failed funeral fund Youpla, which targeted Indigenous Australians, is investigating whether its founder, Ron Pattenden, committed a crime by having it pay more than $20m to an insurance company he controlled in Vanuatu.
In a report to creditors, filed with the Australian Securities and Investments Commission (Asic), David Stimpson of SV Partners said his preliminary investigations indicated that various directors of Youpla may have committed crimes including using their position to gain an advantage at the expense of the company and failing to act in good faith.
