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A judge has thrown out proceedings brought by mining magnate Clive Palmer in which he alleged an abuse of process by prosecutors and the Australian Securities and Investments Commission, finding that Palmer’s suits were themselves a “misuse of proceedings.”
The former director of investment management fund Courtenay House has pleaded guilty to five criminal charges after an ASIC investigation revealed he duped 585 investors in a $180 million Ponzi scheme.
The Australian Securities and Investments Commission is targeting predatory lending, greenwashing and crypto-assets as rising interest rates cause consumers to turn to fringe sources of credit.
A prominent criminal lawyer has been charged with supplying millions of dollars in criminal proceeds as part of a $4.5 million money laundering scheme.
Hillsong Church has denied whistleblower allegations of extensive financial misconduct, claiming an employee was “not correct” to accuse the megachurch of funnelling donations through US bank accounts to skirt Australian charity regulations.
The NSW gaming regulator has suspended the Star Entertainment Group’s casino license and handed it a $100 million fine after uncovering anti-money laundering breaches and “inherently deceptive” misconduct.
Two former employees of the Snowy Mountain Engineering Corporation have appeared in court facing foreign corruption charges linked to Sri Lankan infrastructure projects worth $14 million.
The self-declared “wolf trader” of the Gold Coast, Tyson Scholz, has won his bid to exclude ASIC’s evidence about the meaning of his tweets in its case accusing him of providing unlicensed financial services.
Fintech Humm has admitted to making “misrepresentations” to Japanese bank SMBC over allegedly worthless receivables linked to Forum Finance but has denied it was negligent, claiming a Forum Group unit should share the burden of paying any damages in the $33.6 million lawsuit.