The Wilson Foundation marks a new nadir even for the sociopathic criminals running the Wilson Asset Management (WAM.AX) scam. Although the WAM criminals have stolen millions from granny investors through revaluation and accounting fraud, they have now sunk to a new unforgivable low point. In a despicable bid to reach new victims, the WAM criminals are starting a fraudulent "charity" designed to further their self-interest. Fraud is bad enough, but fraud in the name of charity is truly vile.
The Wilson criminals have taken over the defunct Australian Infrastructure Fund Limited (AIX.AX), planning to repurpose it and perform yet another one of their never-ending capital raisings. The key point (as always) is that this will increase funds under management for WAM and its associates. Jimmy Savile engaged in ostensibly "charitable" acts that allowed him access to new victims. In exactly the same way, the WAM sociopaths are attempting to lure new victims to the fraudulent and inflated listed investment company sector, by making claims of "charity".
WAM claims their new scam involves no self-interest, and that no fees will be charged by participants. This is an outright lie. WAM will own a significant stake in the proposed "charitable" fund. Subsequent upward revaluation of the fund will create unrealized profit for WAM, from which the sociopaths will charge real cash fees. The WAM directors stand to personally make millions from their "charity". They conveniently omit to disclose this.
Moreover, money entrusted by gullible victims to the "charitable" fund will increase funds under management of the cartel. Higher funds under management increases the investment cartel's ability to ramp chosen assets, creating yet more unrealized profits to charge fees from. There is absolutely nothing "charitable" about this fraud. If the Wilson sociopaths really wanted to give to charity, they could very easily do so in a way that would not financially benefit themselves. But these sociopaths cannot even understand the concept of charity without self-interest, cannot comprehend selflessness or love. Pity them, for they are not fully human.
How can the Wilson fraudsters even be allowed to use the word "charity" in their scam? Simple. There is no regulation of the word "charity", just as there is no regulation of "investment". A scheme can literally have fees of 100%, and still legally call itself an "investment". Customers of sausage enjoy more consumer protection. To use the word "sausage", there are set limits on how much canine feces the manufacturer can use. But in Australian financial crime, there are no limits and everything is permitted.