Questioned ... Eddie Obeid, pictured leaving ICAC yesterday. Photo: Edwina Pickles
- Obeid admits he knew of sons' coal deal but thought it 'fanciful'
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- ANALYSIS: Not so fast, says Eddie, not my man
Eddie Obeid has agreed he listed his MP's salary as his only source of income for 10 years in the NSW parliamentary assets register.
The former NSW Labor factional boss has also told a corruption inquiry he did not believe he had to declare benefits he received in the form of household bills paid by his wife Judith from a family trust loan account, which she owed $1.7 million.
Asked at an Independent Commission Against Corruption (ICAC) inquiry what he did to declare that benefit, he replied: "I don't believe that's necessary. It's not an expense required to be put down."
ICAC is investigating claims that former minister Ian Macdonald rigged a 2008 tender process for coal exploration licences in the Bylong Valley, west of Newcastle, and whether Eddie Obeid and his family gained substantial financial benefit from it.
ICAC has heard that the Obeid family stood to benefit by at least $75 million from decisions taken by Mr Macdonald.
Mr Obeid said on Tuesday he had never received any benefit from the family trust he set up 39 years ago.
Counsel assisting, Geoffrey Watson SC, said Mr Obeid's wife had drawn $237,000 on her loan account in one year, but Mr Obeid did not know if she had any income to repay it, or whether she paid any tax.
When Commissioner David Ipp asked him: "Are you really saying you have no idea whether your wife pays tax or not?" Mr Obeid replied: "Yes, Commissioner."
Presented with evidence showing 399 mobile phone calls between Mr Obeid and Mr Macdonald in 2008, Mr Obeid said Mr Macdonald was a very important political ally during a year in which "all hell broke loose" in NSW Labor, with party in-fighting over electricity privatisation and a change of premiers.
Despite Mr Obeid being a right wing factional boss and Mr Macdonald coming from the left wing, Mr Obeid said: "We still have to talk to each other and coordinate things."
Mr Obeid's second day in the witness box was marked by further heated exchanges.
Mr Watson at one point told him: "I'm sorry to get the day off to a bad start, but you just do not intend telling us the truth, do you?"
At another stage he said Mr Obeid was trying to be insolent.
Frustrated by Mr Obeid's failure to directly answer questions, Mr Ipp said: "We will stay here for as long as it takes to get answers from you. I do not mind if it takes several days of listening to Mr Obeid make speeches."
The hearing continues.
AAP
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