Digging deeper into Salmon and Speck's affairs

Carenne Gate can reveal a number of issues with Carenne Support director Geoff Salmon's own company - Salmon and Speck Pty Ltd which is currently in administration after racking up millions of dollars in debt. After digging into the affairs of the company, Carenne Gate can reveal that Salmon may have breached his duty as a director and could be personally liable for debts of the company.

Carenne Gate can reveal that Salmon 'self-dealt' with the company, using it to pay for items for himself and hide them in the company's books, without the knowledge of his business partner Peter Speck.

These debts include:

Alert Monitoring Service for 335 Foleys Creek Road, Oberon	$223.95
Atherton Tableland for work done at 335 Foleys Creek Road, Oberon	$66,705.64
Clark Tanks for water tank installed at 335 Foleys Creek Road, Oberon	$6,544.00
Elgas for LPG service at 335 Foleys Creek Road, Oberon	$1,994.10
Integral Energy for electricity service at 335 Foleys Creek Road, Oberon	$7,871.59
Optus for mobile telephones used by Salmon	$13,891.68
Telstra for home telephone at 335 Foleys Creek Road, Oberon	$562.64
Wright Express for fuel cards issued to Geoffrey and Gillian Salmon	$13,029.27
Minimum amount misappropriated by Salmon:	$110,822.87

These are the amounts which are easily identifiable to have been self-dealt by Salmon. There may be more.

Of even more concern is that some of these debts have been outstanding since 2008, meaning that since that time Salmon has racked up more debt that he knew he couldn't pay. It's time that ASIC does a full and proper investigation into whether Salmon breached his duty as a director and if the company while insolvent.

Geoff and Gillian Salmon defraud administrators

Directors of corrupt charity Carenne Support, Geoff and Gillian Salmon appear to have either lied during the preparation of a Report As To Affairs (RATA) used in the liquidation of Salmon and Speck Pty Ltd or have attempted to gain more from the company than they are entitled to.

Carenne Gate can reveal that as of last month, Geoff and Gillian Salmon jointly claimed to be owed $450,000 by Salmon and Speck Pty Ltd, despite a RATA figure of nil. At the same time last year, the RATA figure was just over $117,000. That's an increase of around $333,000. Geoff Salmon separately claims to be owed $450,000 with his business partner Peter Speck claiming another $450,000.

Even without the Salmons and Mr Speck's claim, the amount owed by the company is in the millions of dollars - with a RATA amount of $2,000,000 owed to the National Australia Bank and over $1,000,000 owed to Asphalt Haulage.

The fall out from the collapse is vast, with businesses struggling due to the massive amounts owed to them by Salmon and Speck, one company - Comet Foods has gone bankrupt after carrying massive debt raked up by Salmon. Labour Hire companies and employees are owed  over $170,000 with an insurance company also owed for worker's compensation.

By looking at how Salmon runs his own company, it's not hard to see why Carenne Support is in such a shambles. Geoff and Gillian Salmon are conartists who should be nowhere near a charitable institution like Carenne Support.

Anybody for a scallop? Salmon's company in over $6.1m in debt

The company belonging to one of Carenne Support's most well known directors, Geoff Salmon is in excess of $6.1 million in debt according to records from the Australian Securities and Investments Commission. The company, Salmon & Speck Pty Ltd has been in liquidation since November 2010 after creditors called in an administrator. At the creditors meeting, Salmon was the only person who voted against the company being wound up for failure to pay its debts.

The company is due in the Supreme Court for a number of appearances over the next few weeks due to its debts and according to the administrator, there are "ongoing investigations" into the company's management (which includes Mr Salmon).

In the administrator's six month report to ASIC it has been revealed that of the $6,399,397 owed to creditors only the secured amount of $224,696 has been paid (or 3.5% of the amount owed).

Mr Salmon is not a suitable person to be running a non-profit organisation like Carenne Support that holds charity status when it is obvious he couldn't run his own company and owes a fortune to others.