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Showing 1 - 10 of 174 results for "Gambling"

First Mutual unregistered MIS wound up

KARREN VERGARA  |  WEDNESDAY, 15 JUL 2026
... with losses accumulating to around $51 million and some $67 million represented as "payments to investors". Much of the gambling took place online, through betting agencies and at the Crown Casino. The receivers also calculated funds were spent on general ...

ASIC charges developer over alleged $10m fraud

VINNY VUCAGO  |  TUESDAY, 23 JUN 2026
... Queensland's Office of Liquor and Gaming Regulation, which suspected investor funds were being used for significant gambling activity at The Star casino. If convicted, McWilliams faces a maximum penalty of 20 years' imprisonment. The matter is ...

Receivers appointed to First Mutual Private Equity

MATTHEW WAI  |  THURSDAY, 18 DEC 2025
... were not shown to be invested in shares on any stock market, but instead, about $80 million has been largely spent on gambling, with losses of around $51 million. About $67 million was represented as "payments to investors", ASIC said. Of the $131 million ...

ASIC accuses ALAMMC Group directors of contempt

MATTHEW WAI  |  FRIDAY, 28 NOV 2025
... and use of investor funds. The corporate regulator suspects that the funds may have been misappropriated, including for gambling purposes. Throughout the process, ASIC has successfully secured travel restraints and court orders to freeze the assets of ...

First Mutual Private Equity gambled $80m of investor funds: ASIC

ANGELIQUE MINAS  |  MONDAY, 3 NOV 2025
... funds were not shown to be invested in shares on any stock market but instead about $80 million has been largely spent on gambling, with losses accumulating to around $51 million. About $67 million was represented as "payments to investors", ASIC said. ...

Court extends freezing orders on First Mutual Private Equity

MATTHEW WAI  |  FRIDAY, 12 SEP 2025
... Private Equity (FMPE) and its sole director Gregory Raymond Cotton, saying it believes investors' funds were used for gambling purposes. The orders were first made on August 15, with ASIC alleging $53 million of clients' funds, attained from March ...

ART raises stake in Tabcorp

ELIZA BAVIN  |  WEDNESDAY, 20 AUG 2025
... Conscious Balanced option outlines an exclusion on companies that make more than 5% revenue from owning or operating gambling facilities, online gambling websites, platforms or mobile applications. ART's Socially Conscious option did not hold any ...

Superannuation fraudster sentenced to prison

ELIZA BAVIN  |  MONDAY, 11 AUG 2025
... his son's university fees, bought cars, jewellery and spent money on international travel, entertainment, and online gambling. ASIC said none of the investment monies were repaid to the investors. "The sentence imposed by the Court demonstrates the seriousness ...

ART extends exclusions in Socially Conscious option

ELIZA BAVIN  |  MONDAY, 12 MAY 2025
... obtain more than 5% of revenues from thermal coal; metallurgical coal; oil and gas; fossil fuel generation; alcohol; gambling; and adult entertainment. Additionally, any investment that gets any revenue from tobacco and alternative smoking products ...

Active Super fined $10.5m for greenwashing

KARREN VERGARA  |  TUESDAY, 18 MAR 2025
... ESG programs..." Between 1 February 2021 and 30 June 2023, the super fund claimed it steered clear of investments in gambling, coal mining, oil tar sands, and Russian companies since the invasion of Ukraine. For example, an Active Super Responsible Investment ...
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