Legal action has started against Michael O’Connor, who is accused of knowing a First Super staffer was also performing work for his labour organisation.
First Super co-chair and long-time CFMEU boss Michael O’Connor used the forestry superannuation fund to bankroll the salary of an official at the union, the prudential regulator alleges.
In the legal proceedings launched this week, it asked the court to boot Mr O’Connor from the First Super board, ban him from acting as an officer of any superannuation fund and hit him with financial penalties.First Super co-chief executive Michelle Boucher said she would not comment on the matter while it was before the court, but that Mr O’Connor had voluntarily stepped down from the board until the case was finished.
As well as the issues around the CFMEU employee continuing to work for the union despite being effectively seconded to the super fund, APRA alleged Mr O’Connor negotiated an extension to the deal despite his conflict of interest in the matter. The allegations come after APRA last month ordered construction industry fund Cbus and two smaller building industry funds to conduct independent reviews ofThe watchdog warned the funds it was concerned about allegations of serious misconduct by the union that was uncovered in reporting byCFMEU administrator Mark Irving KC then forced veteran Dave Noonan off the board of Cbus and two other union directors of the $92 billion fund jumped ship.
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