Aussie Skips is fighting a court’s ruling that imposed a $3.5 million penalty against the waste company and sentenced its boss to an 18-month intensive corrections order, in a criminal cartel case that also implicated Bingo Industries.
A judge has sentenced the former CEO of Bingo Industries to two years’ imprisonment to be served in the community and imposed $30 million in penalties against the waste company for a cartel arrangement with rival Aussie Skips, which copped fines of $3.5 million and an 18 month’ intensive corrections order for its boss.
Bank of Queensland will pay a $820,000 penalty after its Members Equity was found guilty of criminal charges over misleading representations, with a judge finding the defunct direct bank was no less responsible because the offending conduct resulted from a systems error.
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 former managing director and CEO of Bingo Industries should be sentenced to imprisonment for aiding and abetting the waste company in fixing prices for demolition waste services in Sydney, a court has heard.
Lawyerly’s Litigation Law Firms of 2022 racked up precedent-setting victories in a year that continued to see major developments in class action law.
Federal prosecutors pursuing a case against Members Equity have lost an appeal of a ruling that threw out half the charges against the direct bank as time barred, with an appeals court finding the ASIC Act imposes a hard deadline for bringing a criminal case of misleading or deceptive conduct.
Challenging a ruling that tossed half the charges brought against direct bank Members Equity, prosecutors have told an appeals court the ASIC Act does not impose a strict deadline for bringing a criminal case of misleading or deceptive conduct.
The Australian Securities and Investments Commission is challenging a ruling that threw out half the criminal charges against direct bank Members Equity, arguing the statute of limitations doesn’t apply to serious corporate misconduct.
Five enforcement officers of the Australian Competition and Consumer Commission will be cross-examined by lawyers for banks facing price fixing charges over their conduct following ANZ’s $2.5 billion capital raising six years ago.