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ACCC trying to ā€˜fit a square peg into a round holeā€™ with bank cartel case, court hears
Competition & Consumer Protection 2021-12-03 4:59 pm By Cindy Cameronne

The ACCC has been accused of running a “experimental test case” that tries to fit the shares market within the scope of the Competition and Consumer Act with its criminal cartel case against Citigroup, Deutsche Bank and several prominent banking executives over a $2.5 billion ANZ share placement.

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ā€˜Donā€™t panicā€™: JPMorgan boss tried to allay bank exec’s fears over shortfall, court told
Competition & Consumer Protection 2021-12-02 9:52 pm By Cindy Cameronne

JPMorgan Australia chairman Rob Priestley told Citigroup and Deutsche Bank executives not to ā€œpanicā€ about picking up a shortfall in the sale of ANZ shares, a court has heard in the ACCCā€™s criminal cartel case over a $2.5 billion ANZ share placement.

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ACCC updated policies on witnesses after ‘flawed’ bank cartel probe, court hears
Competition & Consumer Protection 2021-11-30 10:36 pm By Miklos Bolza

A senior ACCC officer was probed Tuesday on whether the competition regulator updated its guidelines for taking witness statements in July in response to criticism of investigators’ methods in the cartel probe over ANZ’s $2.5 billion share placement.

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Courtenay House former director duped hundreds in $196M Ponzi scheme, ASIC says
Financial Services 2021-11-30 6:18 pm By Bianca Hrovat

The former director of investment management fund Courtenay House is facing a slew of criminal charges after an investigation by the Australian Securities and Investments Commission allegedly revealed he duped 590 investors in a $196 million Ponzi scheme.

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Vina Money Transfer to plead guilty in criminal cartel case
Competition & Consumer Protection 2021-11-29 10:09 pm By Cindy Cameronne

Money transfer business Vina Money Transfer and two of five individuals accused of fixing foreign exchange rates on millions of dollars transferred between Australia and Vietnam will plead guilty to criminal cartel charges, a court has heard.

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Melissa Caddick’s parents may face court battle over $2.6M Edgecliff property
Restructuring & Insolvency 2021-11-25 4:38 pm By Miklos Bolza

The parents of accused Sydney fraudster Melissa Caddick may need to bring court proceedings to retain their $2.6 million Edgecliff home and recoup $1.2 million they gave to their daughter for the mortgage.

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Melissa Caddick’s company wound up, with $23.5M owing to investors
Financial Services 2021-11-22 9:42 pm By Cindy Cameronne

ASIC has won its bid to wind up accused Sydney fraudster Melissa Caddick’s company and appoint final receivers to realise her assets, paving the way for some repayment to the dozens of family and friends who invested with Caddick and are still owed $23.5 million.

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Mayfairā€™s James Mawhinney files complaints against ASIC lawyers
Financial Services 2021-11-19 3:13 pm By Cindy Cameronne

Mayfair 101 director James Mawhinney is seeking disciplinary action against ASICā€™s lawyers over a media release accusing him of breaching a 20-year ban on raising funds and which disclosed the regulator had asked a court to hold him in contempt.

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Former MP Craig Thomson arrested, charged with $2M visa fraud
White Collar 2021-11-17 3:37 pm By Cat Fredenburgh

Former Labor MP Craig Thomson has been arrested and charged with reaping more than $2 million from facilitating more than 130 fraudulent visa applications.

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Ex-Healthe Care exec fined $10,000 for insider trading
White Collar 2021-11-17 12:00 pm By Cat Fredenburgh

A former executive of hospital operator Healthe Care has been sentenced and fined $10,000 after pleading guilty to one charge of insider trading for acquiring a large number of the company’s shares while in possession of inside information regarding plans to acquire a rival hospital operator.

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