The former chief financial officer of delisted Traditional Therapy Clinics has appeared in court after pleading guilty to market manipulation charges relating to transactions intended to create an artificial share price for the traditional therapy clinic company.
Creditors of the company run by missing Sydney businesswoman Melissa Caddick are unlikely to recoup their investments, with a court hearing the accused fraudster has just $5,600 in her bank accounts.
Global investment banks and executives accused of engaging in criminal cartel conduct in relation to a $2.5 billion ANZ share placement in 2015 will seek to quash the “incomprehensible” indictment filed against them, claiming it is full of “fallacies”.
Forty-four charges have been outlined in a long-awaited indictment in a criminal cartel case over a $2.5 billion ANZ share placement, including 29 charges against top executives from ANZ, Deutsche Bank and Citigroup.
Law firm Atanaskovic Hartnell has failed to postpone its appeal of a ruling over unpaid legal fees until after its senior counsel — who is stuck in London — can get a COVID-19 vaccine and return to Australia.
A fraudster who robbed victims of $7.6 million by pretending to be a financial investor and barrister has had his jail sentence reduced from 16 years to 12, after a court of appeal heard his original sentence was “crushing” and did not reflect his guilty plea or lack of criminal record.
Jailed con artist Douglas Johnston, who was convicted of defrauding investors of $815,000 in 2019, has successfully appealed three of nine dishonesty charges, with a judge finding that depositional evidence from two witnesses should have been discounted.
Federal police have confiscated $15.8 million in assets from the founder of payroll services company, Plutus Payroll, who was sentenced last year to over seven years in jail for conspiring to defraud the Commonwealth of more than $105 million.
Norwegian shipping company Wallenius Wilhlmsen Ocean has been fined $24 million for conspiring to fix the rates charged for shipping vehicles to Australia, bringing the total fines won by the ACCC over the shipping cartel to $83.5 million.
While a Federal Court judge recently promised to advance a long-running criminal cartel case against several investment banks and individuals over a $2.5 billion ANZ share placement, a separate judge will soon hear a privilege dispute over documents from whistleblower JPMorgan that promises to further delay the case.