The former chief executive of failed Melbourne broking firm, Opes Prime Stockbroking Limited (OPSL), Lirim ‘Laurie’ Emini has been committed to stand trial in the Victorian Supreme Court after pleading not guilty to charges flowing from an investigation by the Australian Securities and Investments Commission (ASIC).
Emini has been ordered to appear in the Supreme Court on 21 March on charges relating to ASIC allegations that between July 2006 and February 2008 he caused the transfer of securities between OPSL and another company of which he was a director, Leveraged Capital Pty Ltd. The value of the securities was over $100 million.
Emini is facing 22 charges that, in causing the transfer to be made, he was intentionally dishonest and failed to exercise and discharge his duties in good faith in the best interests of OPSL and Leveraged Capital.
Emini has also been charged with four separate offences of breaching his duties as a director of OPSL and associated companies.
He has been released on bail subject to surrendering his passport, not leaving Australia or attending any international point of departure, not contacting witnesses or his co-accused, and remaining at his residential address.
Emini’s co-directors Anthony Blumberg and Julian Smith also appeared in the Magistrates Court yesterday each charged with four offences of breaching their duties as directors. Blumberg did not enter a plea and was granted an adjournment of his committal until 11 March while Smith pleaded not guilty and his committal was adjourned until 7 March.
