Nearly $300,000 in union funds have been retrieved by the Ambulance Employees Association (AEA) of South Australia, after the money was allegedly lost in unsanctioned transactions and two employees resigned rather than answer to the secretary. The union said $190,000 was transferred to what appeared to be a “venture capital” company for which the employees were shareholders, and without the knowledge of the union’s secretary, executive or state council. An association bulletin sent to members said the transaction had been uncovered while the union was undertaking an in-house investigation into another unsanctioned transaction of $100,000.
