Exclusive: A senior partner at consulting giant Deloitte ran a suspected multimillion-dollar fraud while working at the firm, ensnaring AFL legend Rodney Eade, dozens of executives and many of the prestigious company’s own partners
A senior partner at consulting giant Deloitte ran a suspected multimillion-dollar fraud while working at the firm, ensnaring AFL legend Rodney Eade, dozens of executives and many of the prestigious company’s own partners.
“Endow Family Cap was run by Mr Endow, in his personal capacity, independent of Deloitte and was not sanctioned by Deloitte in any way,” a spokeswoman said. The bonds were said to be linked to a large, ongoing government infrastructure program that is working to improve India’s rural road network. Endow said he was servicing the project as a contractor, according to documents he provided investors.
Deloitte is one of the world’s biggest accounting, audit and consulting firms, and among the core services it offers clients is detecting fraud and misbehaviour at companies and government agencies. Deloitte employees must disclose their investments and business interests to avoid conflicts of interest and reputational issues.
His three-bedroom apartment, which boasts “harbour and Opera House views”, is now publicly online as available to rent. Investors said Endow’s pitch centred on his trusted, senior position at Deloitte along with the fact that multiple Deloitte partners were investors in his suspected scheme. One businessman said he had been advised to invest with Endow by a Deloitte partner who had vouched for the suspected scheme.
In a 2019 pitch document distributed to investors, Endow described how his family business in India was “fortunate to be 1 of the 3 selected panel contractors” on the Indian government-funded Pradhan Mantri Gram Sadak Yojana infrastructure mega-project to overhaul the nation’s rural roads network.
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