Banking royal commissioner Kenneth Hayne has recommended at least two unnamed entities face criminal charges for dishonest conduct connected to their fees for no service practices, an offence that carries a maximum penalty of 10 years’ jail or a hefty fine, or both.
Clive Palmer has lost a fight to stay criminal proceedings alleging his company breached takeover laws, with a judge slamming the Queensland mining tycoon’s claims the charges were politically motivated and saying there was “nothing exceptional” to warrant interference from the court.
A former solicitor with Sydney law firm Atanaskovic Hartnell was jailed Wednesday for a minimum of three years in a fraud case a judge called a “sad illustration of the moral delinquency” of online betting in Australia.
The Australian Competition and Consumer Commission is taking a look at its program for grantingĀ leniency to cartel whistleblowers in the wake of changes that make it easier for the regulator to bring cartel cases over collusive conduct.
Former Reserve Bank of Australia official Christian Boillot was sentenced Thursday to a two and a half years’ suspended jail term over his role in a conspiracy to bribe foreign officials to win banknote business.
The Reserve Bank of Australia’s two banknote subsidiaries pleaded guilty to foreign bribery charges in 2011 and paid fines of more than $21 million, it was revealed Wednesday after a seven-year suppression order was lifted.
The accountant and best friend of fraudster Scott Williams “prevaricated and lied” to hide his knowledge of the Centaur Litigation Ponzi scheme that misappropriated $32 million and led to the collapse of the litigation funder, a court has heard.
The former CEO of a Victoria-based credit union has been hit with a criminal charge in relation to an ASIC probe into voting irregularities during a 2015 election for two company board seats.
A former mobile lender with the Commonwealth Bank of Australia will stand trial for his alleged role in a massive $170 million home loan fraud scheme that targeted Australia’s largest banks.
A Federal Court judge has allowed the plaintiffs in a class action alleging a unit of Westpac failed to detect the fraud of convicted Ponzi schemer Michael Samra to proceed with their claims against Samra’s defunct company.