Glimmer of hope for Gold Coast preacher's prey

KATE DENNEHY

November 15, 2009 - 6:08AM

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Sue and Craig Williams of Runaway Bay ... $150,000 out of pocket. Photo: Michelle Smith

Creditors of former Gold Coast solicitor and preacher Glenn Phillip Duker have a glimmer of hope of recouping some funds after his accountant and auditor was struck off last week.

The Companies Auditors and Liquidators Disciplinary Board (CALDB) cancelled the auditor registration of Allan Gregory Walker following an application by the Australian Securities and Investments Commission (ASIC).

Mr Walker, of Melbourne, worked as auditor for Mr Duker’s failed Gold Coast property development company, RVP Group Limited. The company went into liquidation last year owing 63 creditors more than $40 million.

Mr Walker also worked as accountant for Mr Duker and his wife, Lorilea also a bankrupt.

A damning ASIC report released last week found Mr Walker failed to carry out his duties in relation to the audit of RVP’s financial reports for the 2005 and 2006.

The report said Mr Walker was: "an incompetent auditor who has demonstrated ignorance of or indifference to important statutory requirements and a lack of understanding of or indifference to rudimentary professional requirements," the report said.

"ASIC submits that the protection of the public requires the cancellation of Mr Walker’s registration."

Mr Walker had blamed investors who had lost their money of being ‘‘stupid’’. Many investors were also members of the Christian fundamenatlist church, Revival Centres International of which Mr Duker was a pastor.

Accountant Scott Bennison who is also a member of the church took up the cause for some creditors, claiming Mr Walker had a conflict of interest.

ASIC’s report agreed with Mr Bennison: "Mr Walker does not have an adequate understanding of or is indifferent to important standards of professional conduct relating, in particular, to independence and conflict of interests.  We believe Mr Walker is not a competent auditor and he should not be allowed to continue auditing."

Mr Bennison said the findings meant the company’s liquidator was in a stronger position to claim against Mr Walker’s insurance.

"This means that creditors have a greater chance of receiving some money back," he said.

Former church members and creditors, Sue and Craig Williams of Runaway Bay on the Gold Coast had been ostracised by the church for trying to get their $150,000 back.

Mrs Williams said "the saga" continued to put emotional stress on her family.

"Both Glenn Duker and Allan Walker tried to blame Craig (her husband) for the troubles with the company,’" she said.

"The ASIC report is further confirmation that we have spoken the truth and eventually we hope people will be held accountable for their actions."

Mr Walker could not be reached for comment. Mr Duker is reportedly working as a solicitor in Victoria.

Source: The Sun-Herald