Irregularities worth roughly $1.2 million
The chief executive of the Julalikari Council Aboriginal Corporation has been stood down last year following "financial irregularities."
The company disclosed in its financial report that it found irregularities worth roughly $1.2 million that took place between September 2022 and March 2023.
"The board engaged independent legal representatives and financial advisors to investigate the irregularities," read the report, as published by the Office of the Registrar of Indigenous Corporations.
"As a result, the corporation's CEO, Mr. Sam Ashton was stood down by the Board on March 28 2023."
According to the investigation, the financial irregularities affected several businesses of the corporation, but "predominantly impacted Tennant Creek Funerals Joint Venture and Julalikari Nominees Aboriginal Corporation as trustee for Julalikari Trust."
The matter has since been referred to the Northern Territory Police, who advised them that the probe will "take some time" due to the nature and complexity of the fraud.
"However, after such time as the investigation has been completed, appropriate charges will be laid."
The Board has appointed an interim CEO Group in September comprising of an acting CEO, Centred solutions and SRG Partners to "assess, monitor, and deliver" operation efficiencies.
"The interim CEO Group is working closely with the Board and the funding bodies to enable the Corporation to continue to provide programmes and services to the community, whilst continuing to strengthen the corporation's governance and management practices," the report read.
The announcement comes after ABC reported in February that the ORIC appointment an accountancy and insolvency firm to look into Julalikari's finances.
