A solicitor fighting to remain on the roll after his involvement in the infamous Banksia Securities class action has told of his regret at having lunch with the funder behind the case eight years ago — a meeting that set in motion a plot driven by lawyers to deceive seven Supreme Court judges and defraud thousands of investors.
The Australian Stock Exchange is seeking $3.25 million in security for costs as it defends a $464 million lawsuit brought by fintech firm iSignthis, a move spurred on by the 2021 demerger of iSignthis and ISX Financial EU.
IOOF financial advice unit RI Advice has escaped a penalty in a test case alleging cybersecurity failures, but the firm must engage an IT security company and pay the corporate regulator’s legal costs.
Gold Coast fraudster Dr Roger Munro has been sentenced to four and a half years in prison after pleading guilty to three counts of duping investors into parting with hundreds of thousands of dollars.
A judge has ordered a temporary stay of ASIC’s case accusing Mayfair 101 director James Mawhinney of contempt for breaching a 20-year ban.
The husband of Sydney fraudster Melissa Caddick will be vacating the couple’s harbour-view mansion as court-ordered receivers prepare to put it up for sale.
The plaintiffs in a class action over alleged unfair flex commission arrangements have hit back at Macquarie Leasing’s claims that out-of-pocket customers should have negotiated better deals with car dealers, arguing car loans were taken out as part of a “staged sales process” that limited negotiation.
Law firm Maurice Blackburn will ask a court to approve $14.5 million in costs for running a class action against Colonial First State that has settled for $56.3 million, giving account holders 75 per cent of the proceeds.
National Australia Bank has avoided enforcement action and entered into an undertaking with AUSTRAC to settle an investigation into compliance with anti-money laundering and counter-terrorism financing laws.
The former director of Mayfair’s failed IPO Wealth Holdings, James Mawhinney, has lost his challenge to a judge’s decision allowing liquidators to examine him for an eighth day about the transfer of “considerable assets and funds” from the fund to other entities he controlled.