$1.5 MILLION MISSING - WHO STOLE THE BASKIN ROBBINS AD FUND MONEY?

It's been disclosed that the ACCC is investigating the apparent theft of over $1,500,000. in Baskin Robbins and other Allied Brands franchisee Ad Fund money by Allied Brands management over the last year.

As long noted by franchisees of many of the Allied Brands companies, promised advertising was not being done on behalf of any of the brands. All of the brands (Baskin Robbins, Cookie Man, Awesome Water, Kenny's Cards, etc) contributed large amounts to Ad Funds that are supposed to be held "In Trust" on behalf of the franchisees.

Administrators for Allied Brands, Vincents, have been asked by franchisees for the required audits of the Ad Fund contributions to be produced. To date they have not done so. As previously reported Peter Biazos, administrator at Vincents, was previously employed with ABQ CEO Lachlan McIntosh at Korda Mentha, a huge conflict of interest that the court has not yet ruled on.

Sources with the ACCC and ASIC both indicate that the criminal acts at ABQ are likely to result in up to nine indictments of Allied Brands management including current and former board members as well as general managers for several of the key brands. And this doesn't include the criminal charges that are going to result from the Korean Visa sale scam.