In some breaking news this morning…
The corporate watchdog has launched court action against 11 current and former directors and officers of The Star Entertainment Group.
ASIC alleges Star’s board and directors failed to give sufficient focus to the risk of money laundering and criminal associations, which it says are inherent in the operation of a large casino with an international customer base.
ASIC’s case includes claims against former chair John O’Neill and former managing director and CEO Matthias Bekier.
Earlier this year, Star Casino in Sydney was fined $100m by the NSW Independent Casino Commission following allegations of money laundering, organised crime links and fraud.
Breaches of director’s duties can attract fines of up to $1,050,000 for each breach.
