You're not wrong, but I do wish it was a joke.
Mismanagement of $220m of shareholders' funds. $75m diverted into a trust account and (allegedly) loaned to underworld figures. $26m still missing.
This has to be one of the biggest, if not the biggest, cases of corporate malfeasance in the history of the ASX.
But don't hold your breath waiting for ASIC to do anything:
https://www.abc.net.au/news/2024-07-03/senate-committee-recommends-asic-overhaul/104052584
Ann: EGM - Acting CEO Presentation, page-34
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