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Star engaged in ‘inherently deceptive’ practices, unsuitable to hold casino licence: report
Gaming 2022-09-13 4:21 pm By Cindy Cameronne

The NSW gaming regulator has found Star Entertainment is unfit to hold a casino licence and has threatened disciplinary action after uncovering anti-money laundering breaches and “inherently deceptive” misconduct.

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Cartel case dropped against director of money transfer biz
Competition & Consumer Protection 2022-09-08 11:05 am By Sam Matthews

The director of a money transfer business accused of fixing foreign exchange rates has been let off the hook after four other people associated with the business entered guilty pleas to six charges of criminal cartel conduct. 

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Drug ingredient maker Alkaloids faces $30M penalty for ‘actively policing’ cartel
Competition & Consumer Protection 2022-09-05 11:32 pm By Cindy Cameronne

Pharmaceutical ingredient producer Alkaloids of Australia is facing a maximum $30 million penalty but has argued it should pay less than $1 million after pleading guilty to cartel conduct over the supply of a key chemical found in generic stomach cramp drugs.

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iSignthis auditor Grant Thornton hit with criminal charges
Accounting 2022-09-01 11:23 pm By Sam Matthews

Grant Thornton and former director Bradley Taylor appeared in court Thursday, facing charges of failing to ensure the 2018 audit of fintech firm iSignthis was conducted in accordance with auditing standards.

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AUSTRAC investigates Perth Mint for financial crimes
White Collar 2022-08-30 9:35 pm By Cat Fredenburgh

AUSTRAC has appointed an external auditor to Perth Mint, Australia’s official bullion mint, to assess its compliance with anti-money laundering and counter-terrorism financing laws.

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Forum Finance judge recuses himself after questioning director’s credibility
Legal Ethics 2022-08-19 9:51 pm By Cindy Cameronne

A Federal Court judge has recused himself from hearing a fraud trial against Forum Finance, after expressing that he had an “unfavourable” impression of director Vince Tesoriero’s reliability as a witness.

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Money transfer biz director retreats from credibility attack on key witness in cartel case
Competition & Consumer Protection 2022-08-16 1:40 pm By Cindy Cameronne

The director of a money transfer business accused of fixing foreign exchange rates has filed a defence attacking the credibility of the federal prosecutor’s key witness, but his new lawyer says the attack might not be maintained at trial.  

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Citigroup judge calls out ‘complex and arcane’ criminal cartel laws
Competition & Consumer Protection 2022-08-15 11:17 pm By Cat Fredenburgh

The judge who oversaw a discontinued criminal cartel case over a $2.5 billion ANZ share placement has bemoaned Australia’s overly complex criminal cartel laws, noting prosecutors stumbled in advancing the indictment despite the case involving a “not particularly complex” set of facts.

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‘Serious allegations’ against Pitcher Partners to be heard in NSW
Accounting 2022-08-05 10:02 pm By Cindy Cameronne

A judge has denied a bid by accounting firm Pitcher Partners to transfer a $127 million lawsuit brought by the Twigg family, saying he was best placed to hear “serious allegations” the firm helped race car driver Max Twigg give a false understanding of his company’s assets.

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Silk warned by judge not to get ‘carried away’ in defamation case by bank boss Peter Schiff
Defamation 2022-08-04 11:56 pm By Sam Matthews

A judge has cautioned senior barrister Sue Chrysanthou over her colourful description of a 60 Minutes episode at the heart of Euro Pacific Bank boss Peter Schiff’s defamation case against Nine, urging the silk to “be careful”.

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