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Tag: ASIC

Palmer charged with fraud, breaching director duties

Mining magnate Clive Palmer is facing charges of fraud and breaches of directors' duties over multimillion-dollar fund transfers in 2013.

The matter was mentioned in the Brisbane Magistrates Court today (July 17) and adjourned until August 28. 

The charges against the Queensland Nickel refinery owner follow an Australian Securities and Investments Commission investigation.

ASIC alleges that Palmer dishonestly obtained a benefit or advantage for Cosmo Developments and/or the Palmer United Party and others in 2013 by authorising the transfer of $10 million contrary to the purpose for which the funds were being held.

ASIC also alleges that he. . .

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