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Ex-Vocus chairman charged with insider trading
White Collar 2021-09-14 10:08 pm By Cat Fredenburgh

Former Vocus chairman Vaughan Bowen has been charged with two counts of insider trading for allegedly offloading 5.6 million company shares while in possession of knowledge that a private equity firm would pull its $3.3 billion takeover offer for the telco.

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NSW Police launch investigation into Forum Finance
Financial Services 2021-09-13 2:57 pm By Cat Fredenburgh

The NSW Police have commenced an investigation into Forum Finance and director Bill Papas, which have been accused by Westpac, French investment bank Societe Generale and Japanese bank SMBC of a $400 million fraud.

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Lawyer, directors of failed property group Members Alliance face 72 charges
White Collar 2021-09-10 10:55 pm By Sam Matthews

An award-winning Gold Coast solicitor and four directors of the Members Alliance and Benchmark group of companies have been charged in connection with the collapse of the property investment group in 2016.

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Forum Finance liquidators win court ok to sell $1.2M luxury yacht
Restructuring & Insolvency 2021-09-03 9:57 pm By Miklos Bolza

Liquidators for Forum Finance have won court approval to sell a $1.2 million Mangusta luxury yacht as well as 12 properties owned by various companies within the Forum Group.

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Ex-Deutsche Bank exec looks to knock out cartel charges
Competition & Consumer Protection 2021-09-01 11:07 pm By Cat Fredenburgh

A former Deutsche Bank executive named in a criminal cartel case over a $2.5 billion ANZ share placement says the charges against him are defective and should be quashed.

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ASIC to hand over examination transcript in Westpac insider trading case
Financial Services 2021-09-01 5:19 pm By Miklos Bolza

ASIC has agreed to provide Westpac with the transcript of a compulsory examination of one of its traders in court proceedings accusing the bank of insider trading in relation to the $16 billion privatisation of electricity provider Ausgrid.

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Judge freezes Forum Finance director’s worldwide assets
Financial Services 2021-08-27 5:34 pm By Cindy Cameronne

A judge has expanded a freezing order over assets owned by Forum Finance director Vincenzo Tesoriero to include property outside Australia, including a yacht in Miami dubbed “XOXO”, after Westpac raised concerns about non-disclosure.

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Fraud cross-claims struck out in Mach Energy suit over Mount Pleasant coal mine
Competition & Consumer Protection 2021-08-25 6:28 pm By Bianca Hrovat

A judge has struck out allegations of fraud in a cross-claim brought by the operator of a NSW open-cut coal mine, which accused several contractors of knowingly understating the time and cost of expansion works to the tune of $52 million.

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Criminal cartel charges against CFMEU dropped over witness concerns
Competition & Consumer Protection 2021-08-17 1:06 pm By Cat Fredenburgh

Criminal cartel charges against the CFMEU and its ACT branch secretary have been dropped amid concerns about witnesses’ ability to recall the events at the centre of the case, two months after witness credibility concerns led to a stinging defeat for the ACCC in the Country Care criminal cartel trial.

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Financial fraudster dodges conviction following ASIC investigation
Financial Services 2021-08-09 2:54 pm By Bianca Hrovat

The former director of Sydney financial planning practice Hillross Bella Vista has been conditionally released without a conviction recorded after pleading guilty to falsifying documents uncovered during an investigation by the Australian Securities and Investments Commission.

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