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The ACCC alleged 57 breaches against Chris Bilborough and  the Commonwealth Bank and 12 Other defendants, although the case was Front Page News when it was announced, the result never made the papers, because Chris Bilborough won.

How the ACCC conducted the case is truly an unbelievable story, how they instructed, re-instructed and then re-re-instructed the valuer is mind boggling and borders on conduct that if other organisations had done the same thing, the courts would have prosecuted them for manipulating evidence to pervert the course of justice.

The case officers from the ACCC decided that their expert witness did not know what he was talking about, and they instructed him to Lower his Valuation not once, but twice, blatant evidence tampering?

The Property was sold at $164,900 and the Original Valuation of $165,000 by the expert Valuer was slightly higher than the price the property was sold, this was to high for the ACCC to run the case, so they asked the Valuer to lower it.  The new or second valuation came in at $150,000 and the ACCC was not happy with that, as they thought is should be lower. So the ACCC asked the Valuer to lower it again, the Valuation used in the court case was the third Valuation which was $135,000. This was discovered in cross examination of the Valuer by opposing counsel in open court once the notes of the Valuer were given over in Discovery.

Rather amazing to think that the Australian Regulator, the ACCC, had to change the Valuation to get Chris into court. If Chris had changed his valuations what would the courts of and the ACCC have done?

The ACCC case officers thought they knew more about property valuer than their expert valuer, their own expert witness, the outcome of this trial is public record, as is the appeal and it is now a landmark case used as a precedent in the Federal Court for Financial Services law and taught in most universities. The real question is why did the Regulators need to tamper with the Valuation evidence and who was causing this to happen?