"THE board of Western Sydney Dragway has been suspended, following allegations of favouritism, nepotism and calls for the corporate watchdog to conduct an inquiry into its financial management. The high-stakes world of drag racing has been rife with accusations about the operation of the public company that runs the NSW government's dragway track at Eastern Creek, including claims it has mounting debts it cannot pay. The troubles at the track, revealed in The Sun-Herald and The Sydney Morning Herald, have led to an outsider being installed to take over from racing legend Jim Read as head of the Western Sydney International Dragway Ltd. Advertisement: Story continues below Mr Read's opponents in the racing community claimed he ran it as his fiefdom, giving work at the dragway to his wife, his sons, his stepdaughters and a nephew. Liverpool businessman and motor sport insurer Sam Sofi has been asked to take on the chairman's position and has been given ''full control'' of the company for the next six months. He will also lead an independent review of the company's operations. Mr Sofi said he would bring in a team of independent experts to review the finances of the company, operations of the board, management structure, membership, communication and conduct of events. He will report to the annual general meeting at the end of July. ''I will go through every one of the issues that have been raised,'' Mr Sofi said. ''If there are any old accusations, they will be put to rest. I am not interested in hearsay or innuendo.'' Mr Read had either led the board of the dragway or been chief executive since it opened in 2004 after an injection of $30 million from the government was used to build it. The Sun-Herald revealed last year that the NSW government helped a Labor mate, Tony Beuk, to build the drag strip on public land set aside for a much-needed rubbish tip. Planning permission had been given for the 4.5 million tonne extension to the Eastern Creek waste facility when the government reversed its decision and paid $30 million to build the Western Sydney Dragway instead. The government then leased the dragway to an organisation run by Mr Beuk, a former Liverpool deputy mayor and Labor Party employee, and Mr Read. Questions have been asked about why the dragway - which has received about $3 million in government grants for upgrades, plus more than $1 million in a waiver of its rent for the first five years - has been making big donations to the NSW Labor Party. It has donated $168,050 to the party since 2003, according to NSW Election Funding Authority records. Last year, the Coalition and the Greens called on the Australian Securities and Investments Commission (ASIC) to examine the financial viability of the Western Sydney Dragway. Last week, at a meeting of concerned drag-racers, questions were also raised about the ability of the non-profit company to pay its mounting debts. Mr Sofi said: ''I am not beholden to anyone � and I don't have any baggage. But if anyone has any hard evidence on wrongdoing they should bring it to me, and if I think there is credible evidence of wrongdoing, I will be the first one to refer it to the appropriate authorities.'' It has been revealed that the dragway owes the sport's governing body, the Australian National Drag Racing Association (ANDRA), about $225,000 in accumulated costs. ANDRA's chief executive Tony Thornton was confident the dragway would be able to pay off the debt and called the ''rejig'' of the board a positive move. Board members Mr Beuk and Geoffrey Crisp did not return calls to The Sun-Herald. Mr Read said his house had been burgled and he did not want to talk. Western Sydney Dragway has not filed its financial statement for 2009-10, so the current financial position remains unclear"

Interesting. I love how the media immediately mentions the funds that were used to build WSID were originally supposed to be used for a "much-needed rubbish tip". What that has to do with the alleged corruption has me stumped Nice sig btw. Some original photos have not been recovered yet.

Quote: Originally Posted by FORZA [View Post] Interesting. I love how the media immediately mentions the funds that were used to build WSID were originally supposed to be used for a "much-needed rubbish tip". What that has to do with the alleged corruption has me stumped Nice sig btw. I think it's hinting corruption in the decision to build the track instead of the tip as orig intended Some original photos have not been recovered yet.

Drag Strip > Rubbish Tip