A former Courtenay House contractor and investment promoter is the latest to be sentenced to a term of imprisonment over an alleged $180 million Ponzi scheme, for which he netted $670,000 in commissions.
The parents and receivers for accused Sydney fraudster Melissa Caddick have reached a deal over a multi-million dollar property in Sydney’s East, but the compromise remains to be blessed by out-of-pocket investors.
A Melbourne investor who posted in an online forum that a pump and dump scheme was all part of the “fun and games and cat and mouse of the stock market” has been sentenced to two and half years imprisonment for market manipulation.
Wealth management firm Ord Minnett has paid an $888,000 penalty for twice breaching market integrity rules in executing a share buy-back with “pre-arranged” trades.
The Australian Securities and Investments Commission has gone after a superannuation fund over a Facebook post that allegedly overstated the fund’s positive environmental impact.
A shareholder class action against software company Nuix will go ahead as planned, after a stay application threatened to put the proceeding on ice pending the outcome of a separate case brought by ASIC.
MLC has agreed to cop a $10 million penalty for admitted breaches of the Corporations Act in an ASIC case that alleged the insurer failed to promptly update medical terms in policies and withheld payment of a life insurance benefit.
The parents of Sydney fraudster Melissa Caddick will seek an inquiry into whether receivers of her property have acted faithfully in managing the assets.
Two executives involved in ANZ’s $2.5 billion equity capital raising have stood by arguments that the book was covered when the bank’s underwriters took up $750 million of the shares, despite ASIC’s allegations of “receding demand” on the day of the placement.
ANZ has told a court it had no obligation to disclose a $750M bailout by the underwriters of a $2.5B equity capital raising in 2015, in ASIC’s case alleging the bank breached its continuous disclosure obligations by failing to alert the market to the bailout.