Sydney man found guilty of contempt
The Supreme Court of New South Wales has found Stephen Matthews guilty of contempt of court for breaching orders previously imposed by the court in 2000. The orders related to proceedings previously brought by the Australian Securities and Investments Commission (ASIC).
This is the fourth instance Matthews has been deemed guilty of contempt of court for breaching orders relating to ASIC proceeding court orders.
ASIC alleged in November last year that Matthews breached court orders from 2000, which permanently prevented him from the business of advising other individuals about securities or dealing in securities.
Matthews breached the order by sending 1,650 letters to trustees of self-managed superannuation funds, inviting them “to partner with Mr Matthews as a lender to, or share investor in, a new company vehicle for the purpose of acquiring shares in a company presently trading on the Australian Securities Exchange”.
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