Clive Palmer contends it's not just commonplace but legal to backdate the financial records of private companies. He said it to the press gallery in response to questions about his recent fraud case against his Chinese business partners, Citic. Although the case was found in his favour the judge validated Citic's assertion that Palmer had created sham documents. Is this really true: not that it goes on and people don't get prosecuted for it, but that it's formally legal under Australian commercial law? If not, for a politician to admit having done it on national TV might not be the smartest move.