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Mercorella in court

03dec05
GUISEPPE Mercorella appeared in the Adelaide Magistrates Court yesterday on 24 charges arising from an investigation by the Australian Securities and Investments Commission.

They relate to his alleged failure to disclose his interests in shares of Lion Energy and Entek Energy - companies of which he was a former director - to the Australian Stock Exchange.

ASIC alleges that between February 25, 2003, and August 5, 2005, Mercorella did not disclose the acquisition of more than 124 million shares and disposal of more than 287 million shares in Lion and the acquisition and later sale of more than four million shares of Entek.

He has been remanded to re-appear in court on January 13.