An Australian funeral insurance company was fined $3.5 million dollars but does not have to pay the fine.

A funeral fund that cost Aboriginal clients thousands of dollars in premiums when it collapsed has been hit with a $3.5 million fine, but will not have to pay it due to being in liquidation.

The Aboriginal Community Benefit Fund (ACBF), run by Youpla Group Pty Ltd, marketed itself as an Indigenous business and sold funeral premiums to customers across the country for 30 years.

Then the next step would be to fine and imprison the directors, surely?

https://www.abc.net.au/news/2025-07-10/acbf-youpla-fined-by-federal-court-misleading-customers/105515780

Top | New | Old

DeWayfarer · 61-69, M

I can't say how corporations are run in Australia. Yet I must mention that in the USA corporations are treated as individuals under the 14th amendment.

What this does is free up any board members, executives as well as a corporations president from the corporation's responsibilities.

They actually are not responsible for their actions and why Trump was not responsible for the SIX bankruptcies be filed on behalf of his own corporations.

I suspect it might be similar in Australia, yet I'm uncertain how that might be implemented.

This is a effect of capitalism on modern society all over the world. Even in China individuals in corporations are not responsible for the corporations actions.

Of course corporations in China are run by the government. So the government is not responsible either.

whowasthatmaskedman · 70-79, M

@DeWayfarer The main principles of corporate law are the same in OZ. The difference being that the laws are enforced a lot more. Trump would have done time in OZ for some of the frauds he pulled in the US..😷

DeWayfarer · 61-69, M

@whowasthatmaskedman I can't say because I don't know anything about Australian constitution which is totally different than laws in either country.

Corporate law is as well a totally different thing in the USA as well than the USA constitution.

Constitutions set the whole framework of government. Which include who and what laws can be made.

The 14th amendment is more than just a law. More like a right. And has several parts that don't apply to corporations.

whowasthatmaskedman · 70-79, M

It is disgusting that this can happen.. But a warning to anyone paying for funeral insurance.. The nature of insurance is that the premiums paid should always be more than the payout. So simply taking the few $ a week and putting it in a jar should be a better bet for most people than paying a premium. Its not like house or car insurance. Or even life insurance to cover the cost of the family carrying on.. This is a relatively small expense that a little forward planning should manage..😷

View 1 more replies »

whowasthatmaskedman · 70-79, M

@Gusman On your life, I agree with you. But if you sneeze which driving and plough through a Porshe dealership, you may feel different.. Thats removing a risk you will have to pay for if you lose. 😷

Gusman · 61-69, M

@whowasthatmaskedman My mistake. I do have comprehensive car insurance.

whowasthatmaskedman · 70-79, M

@Gusman I figured you might, knowing you have a pretty new car..😷

SomeMichGuy · M

And seize their assets due to fraud.

View 1 more replies »

SomeMichGuy · M

@Gusman Yes.

Problem here in the US is the state-specific laws of bankruptcy have had lots of rich crooks build in FL...

Gusman · 61-69, M

@SomeMichGuy Which is why I have always stated - The Capitalist system was made so those with money would make more obscene amounts of money, very often fraudulently, with the backing of corrupt politicians.

SomeMichGuy · M

@Gusman As I have long said: fix $ in politics and ALL sorts of nonsense goes away.

This comment is hidden. Show Comment

Add a comment...