Direct bank Members Equity has pleaded guilty to criminal charges over misleading representations to customers, but a judge has questioned the bank’s submissions in favour of a low penalty, noting it was only “happenstance” that a systems glitch didn’t lead to worse outcomes for customers.
The receivers of Melissa Caddick’s estate have reached an in-principle agreement with the Sydney frauster’s husband and son in relation to the division of a small number of remaining assets.
NAB will fight a bid by a $78 million class action over the collapse of Walton Construction to add serious fraud allegations in the four-year-old case, which a judge said has been “mired in a procedural mess”.
A man has been charged with trading in inside information in advance of Westfarmers’ $776 million acquisition of lithium company Kidman Resources in 2019.
Pitcher Partners has lost its appeal of a decision that refused to stay a lawsuit over the accounting firm’s alleged involvement in race car driver Max Twigg’s misappropriation of $127 million from his family.
The son of former ATO deputy commissioner Michael Cranston has been jailed for a minimum 10 years for his leading role in a $105 million tax evasion scheme.
Former G8 Education chair Jennifer Hutson has lost an appeal of a decision that found she was not unlawfully examined by the corporate regulator over the childcare company’s $162 million hostile takeover bid for Affinity Education Group.
Tax advisers and firms promoting tax avoidance could face penalties of up to $780 million, as part of a suite of reforms the government is calling “the biggest crackdown on tax adviser misconduct in Australian history”.
The judge overseeing the receivership of Melissa Caddick’s estate has pushed off a dispute about a collection of sneakers held by the deceased fraudster’s teenaged son, including one pair that could be worth up to $12,000.
Companies could be on the hook for higher penalties for foreign bribery and other white collar offences after a High Court majority on Wednesday found a $1.35 million bribery penalty imposed on engineering firm Jacobs Group was inadequate.