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ASIC disqualifies Joseph Gutnick for four years

Jonathan Steffanoni
Jonathan Steffanoni
in Melbourne Demons

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Posted

I'm in need of distractions from thinking about last night's game, and this landed in my work inbox.

"Diamond Joe's" involvement with the Club was many years ago now, but this still may be of interest.

https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-041mr-asic-disqualifies-former-asx-listed-merlin-diamonds-director-joseph-gutnick-for-four-years/

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    • Demonland changed the title to ASIC disqualifies Joseph Gutnick for four years
     

    Spelling mistakes don't just happen on Demonland. The article says Gutnick's companies "owned a combined total of $43,209,965..." when the meaning clearly means they "owed a combined total of $43,209,965..."

    Makes quite a bit of difference!

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    He was the most unlikely looking dees supporter you'd ever see. But he saved our [censored] back in the eighties or so it goes.

    He gets a free pass from me.

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    I'm in two minds about Gutnick.  He did help us out a lot in the aftermath of the merger episode, but then how much did he cost us in the salary cap breaches he sanctioned?

     

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      On 12/03/2024 at 02:27, Katrina Dee Fan said:

    I'm in two minds about Gutnick.  He did help us out a lot in the aftermath of the merger episode, but then how much did he cost us in the salary cap breaches he sanctioned?

     

    same same...and he missed a chance to give the club a home. 

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      On 12/03/2024 at 02:38, Wells 11 said:

    same same...and he missed a chance to give the club a home. 

    He had already tipped a couple of Million for the club, which was broke.  He got us the Bentleigh club and Leigoak which having been sold by the current administration are still are the only assets the club has after 160+ years. 

    To have tipped in further for the Olympic swimming pool site is a bit over the top as a further ask.  And there wasn't an oval next to it until Eddie kicked out Athletics Vic.

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      On 12/03/2024 at 06:17, george_on_the_outer said:

    He had already tipped a couple of Million for the club, which was broke.  He got us the Bentleigh club and Leigoak which having been sold by the current administration are still are the only assets the club has after 160+ years. 

    To have tipped in further for the Olympic swimming pool site is a bit over the top as a further ask.  And there wasn't an oval next to it until Eddie kicked out Athletics Vic.

    I still feel like if he’d taken it to the members we could have made it happen. He wouldnt have had to do it on his own. Anyway, that opportunity ( and it’s the best we’ve ever had) has come and gone. no use crying over it all these years later. 

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      On 12/03/2024 at 02:27, Katrina Dee Fan said:

    I'm in two minds about Gutnick.  He did help us out a lot in the aftermath of the merger episode, but then how much did he cost us in the salary cap breaches he sanctioned?

    i was under the impression that when he discovered he did the smart thing - went to afl and tried to mitigate punishment

      On 12/03/2024 at 02:38, Wells 11 said:

    same same...and he missed a chance to give the club a home. 

    hardly alone here

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      On 12/03/2024 at 02:27, Katrina Dee Fan said:

    I'm in two minds about Gutnick.  He did help us out a lot in the aftermath of the merger episode, but then how much did he cost us in the salary cap breaches he sanctioned?

     

    I heard that he did his 'nana when he discovered that Schwab hadn't told him about the additional over the counter payments.  I think he self-reported to the AFL.

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      On 12/03/2024 at 11:59, redandbluemakepurple said:

    I heard that he did his 'nana when he discovered that Schwab hadn't told him about the additional over the counter payments.  I think he self-reported to the AFL.

    I think he self reported on live TV (The Footy Show) and from there it was followed up…

    Never a dull moment with Diamond Joe

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    Had a real estate dealing with him once. He was a tough negotiator.

    I did admire his commitment to his beliefs but felt sorry that he couldn't attend games on his Sabbath.

    His business dealings may not have been kosher but as others have pointed out, did some good things for the club.

    The Bentleigh club wasa good investment and I still have some fond memories watching games there.

    Edited by leave it to deever

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      On 12/03/2024 at 06:17, george_on_the_outer said:

    He had already tipped a couple of Million for the club, which was broke.  He got us the Bentleigh club and Leigoak which having been sold by the current administration are still are the only assets the club has after 160+ years. 

    To have tipped in further for the Olympic swimming pool site is a bit over the top as a further ask.  And there wasn't an oval next to it until Eddie kicked out Athletics Vic.

    Wrong, Leighoak and Bentleigh Club were both purchased by the club long before Gutnick  became involved in the club.  Leighoak was purchased in 1994, renovated and opened by the club in 1995.  Bentleigh Club was purchased beginning of 1996.  Gutnick became involved after the failed merger at the end of 1996.

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      On 14/03/2024 at 02:09, Katrina Dee Fan said:

    Wrong, Leighoak and Bentleigh Club were both purchased by the club long before Gutnick  became involved in the club.  Leighoak was purchased in 1994, renovated and opened by the club in 1995.  Bentleigh Club was purchased beginning of 1996.  Gutnick became involved after the failed merger at the end of 1996.

    Bentleigh club opened 1997 after Joe became president in 1996.

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      On 14/03/2024 at 02:43, george_on_the_outer said:

    Bentleigh club opened 1997 after Joe became president in 1996.

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    Melbourne’s association with the Bentleigh Club commenced in 1996, with the club officially acquiring the Bentleigh Club in 2011 when the venue was operating at a loss and experiencing a growing debt obligation. 

     

    Edited by daisycutter

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    From what I remember at the time, the merger vote happened in mid September 1996 and Gutnick became president a month later.  The association with Bentleigh Club happened mid season, with one of the board members of Melbourne being the President at the time of Bentleigh Club.  Bill Belcam, I believe.  The association began before Gutnick was involved.  Significantly, Belcam and Gutnick did not get along, in fact it was rumoured Belcam was one of the board members who sided with Ridley, and after he became president, Gutnick tried to push him, along with other board members, off the board for supporting the merger.

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