Nyman Gibson Miralis

A court has ordered the winding up of blockchain mining firm NGS Group and related companies, finding they operated in “blatant” violation of the Corporations Act.

Hong Kong-based NGS Crypto Group and its director have lost their bid to undo receivership and freezing orders made amid concerns about dissipation of assets as ASIC investigates whether hundreds of Australians who sank $21.1 million into the crypto firm were misled about the safety of their investments.

A former Commonwealth Bank executive facing criminal commercial bribery charges has been ordered to hand over a number of documents in a US lawsuit brought by IT company Computer Sciences Corporation, but has avoided orders compelling him to take the witness stand.