Federal Treasurer Josh Frydenberg was the best man at Seven’s Ryan Stokes’ 2016 wedding and Mr Stokes company Seven West Media announced on Friday (12/11/21) that they had received a total of $47 million over the last 2 years in taxpayer funded Jobkeeper payments. It helps explain why Josh Frydenberg has allowed an estimated $20 billion to $40 billion to be ripped off the Australian public via the rorting of Jobkeeper by the very rich.
Seven West Media is only one company that Ryan Stokes controls, on behalf of his father Kerry Stokes, so the true figure that Ryan and Kerry have profited for their companies from Jobkeeper could be anywhere up to $200 million or more is my estimate when you look at the size and diversity of the parent company Seven Group. (Click here to read more)
A company the size of Seven was meant to have a reduction in revenue of over 50% to be eligible for Jobkeeper but Seven West Media announced only 2 weeks ago they are paying $132 million in cash to buy regional broadcaster Prime Media which doesn’t sound like a company that lost over 50% of its revenue over the last 2 years. (Click here to read more)
The $47 million had been known since September but the market was waiting to see how much Seven would payback and the amount was a big fat zero which explains why Seven announced it at 3.55pm on a Friday. Business journalist Stephen Mayne Tweeted the below:
How many other close friends of Josh Frydenberg profited from Jobkeeper? Should Josh Frydenberg have been forced to declare his close personal friendships and how much they have profited from Jobkeeper? I think Frydenberg should given how much of a rort it has been.
Below is Ryan Stokes on the far left on his wedding day in 2016 and on the far right is his best man and federal treasurer Josh Frydenberg.
You have to wonder if Ryan Stokes helped Josh Frydenberg draft the Jobkeeper scam.
Update: I have just published the below video on YouTube titled: Australia’s biggest financial fraud: Jobkeeper. Overseen by Federal Treasurer Josh Frydenberg.
Kerry and Ryan Stokes have a long history of bludging off the taxpayer
One of the ways the rich get richer is by bleeding every cent they can from the government which Jobkeeper is a perfect example.
Another example is Kerry Stokes pouring hundreds of $millions down the drain for the Australian War Memorial in effect building a memorial for himself which would be better spent on returned soldiers which Stokes doesn’t seem to care about at all.
The SMH reported in 2020 in an article titled “Ryan Stokes might be mates with the Treasurer but his dad did better in the budget”
Seven West Media chairman Kerry Stokes can certainly claim to be a budget winner. The Australian War Memorial, which he chairs, emerged as one of the biggest winners on budget night, securing a $52 million funding boost for the coming financial year, to $117 million.
The Canberra museum will receive another $102 million in the year after that, and another $85 million in 2023-2024, a substantial bump on the government’s current capital works contribution of $65 million a year. The memorial is also nearing the sod-turning on an ambitious – and contentious – $500 million revamp, which Stokes has personally guaranteed will not go over budget. (Click here to read more)
Stokes gets an amount heading towards a $billion for the war memorial because it is his pet project but returned soldiers suffering post-traumatic stress disorder struggle to get the help they need. And then the Stokes’ get tens of $million in Jobkeeper and as I said above it could be as high as $200 million of more in Jobkeeper.
I have gone a bit off track because this article is meant to be about Jobkeeper, but it is easy to do when talking about the Stokes because they have their hand out all over the place for government cash.
Most Australian media have profited from Jobkeeper
Media reporter Tim Burrows published an article on Monday titled “JobKeeper: Half a billion reasons why the media industry owes Scott Morrison”
As the market was closing on Friday, Seven West Media became the last of the Australian headquartered ASX media companies to publish its JobKeeper numbers.
The JobKeeper disclosures became mandatory as part of a compromise during a failed push to force companies to give back the money if they did not need it after all.
With $137m already on the record, News Corp’s numbers still to come, and the unlisted companies numbers unavailable, support for the media sector amounted to more than half a billion dollars.
A lot of media owners have a lot to be grateful to prime minister Scott Morrison for. (Click here to read more)
It’s not just Ryan Stokes and Seven that have profited from Jobkeeper but other media companies have as well and the Liberal Party have bought themselves quite a few friends at the media companies which explains some of the media coverage of politics. But they have used taxpayer’s money to do it which is fraud by the government the same way they have fraudulently bought votes by pork barrelling.
I would like to see a Senate enquiry for Jobkeeper where the likes of Josh Frydenberg and Ryan Stokes are forced to give evidence.
In New Zealand, where they also a had a Jobkeeper program, if companies claimed Jobkeeper when they shouldn’t have then they had to pay the Jobkeeper back. In Australia the government has let the companies keep the Jobkeeper which is financial fraud by the government that has allowed many of their rich friends to get richer.
Where are all the old media companies writing about media companies rorting Jobkeeper? How many media companies wrote about Seven West Media announcing on Friday at 3.55pm that they had received $47 million in Jobkeeper but were refusing to pay any back? None! In Australia we have an old media that is bought and paid for by the government.
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