ASIC is a toothless tiger - will piss about for a couple of years, annoying everyone , then drop all the charges- mark my words. I had a matter of company fraud once and handed ASIC a brief sufficient to jail the maverick directors for 15 years and guess what- after 2 years of blowing smoke out their arse they dropped it as not sufficiently in the public interest ( ie not the big end of town). Luckily the AFP fraud squad picked it up and ran with it.
Ann: ASIC proceedings, page-52
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