Federal police have charged 12 members of an alleged sophisticated criminal syndicate, including construction industry figure George Alex, which authorities say enlisted the help of financial industry experts and former bankers to pull off a $17 million fraud.
Commonwealth Bank’s wealth management unit Colonial First State has admitted misleading conduct in certain calls to superannuation members, but has otherwise denied claims by the corporate watchdog that it misled over 12,000 fund members during the transition to MySuper accounts.
Uber has lost its latest challenge to a landmark class action that alleges the ride-sharing giant engaged in a conspiracy to steal business from taxi and limousine drivers across four states, with an appeals court dismissing arguments the case failed to properly allege an intent to harm.
ASIC has dropped its fight with Westpac over the bank’s financial assessment of home loan borrowers following political pressure, citing the “challenging economic circumstances”.
An Ashurst partner in a long-running stoush with his former Family Court judge neighbour over a property in the harbourfront Sydney suburb of Point Piper has been hit with indemnity costs for “unreasonably” pushing his case.
The ACCC’s investigatory techniques have come under fire during a hearing over an alleged criminal cartel agreement between ANZ and two investment banks, with a barrister for one of the banks suggesting investigators from the regulator deliberately did not take notes during hundreds of days of witness interviews to avoid disclosure.
Ardent Leisure, which operates the Dreamworld theme park in Queensland, has been hit with three charges over four deaths that occurred at the theme park in 2016 following a ride malfunction.
IP Australia has appealed a judge’s decision to allow four Aristocrat gaming patents to proceed to grant, hoping for another victory after winning two high stakes challenges to software patents before the Full Federal Court.
ASIC has called for a $15 million penalty against National Australia Bank over its scandal-ridden ‘Introducer’ loan referral program, but a judge has questioned the “superficial” investigations in the case and remarked on the corporate regulator’s “pattern” of bringing enforcement action after remediation programs were well underway.
Despite receiving immunity in a criminal cartel case against ANZ and two other investment banks, JPMorgan has disputed the existence of any cartel agreement since the early days of the ACCC’s investigations, a court has heard.