The corporate watchdog says it will produce three witnesses in its Federal Court case against Australia's richest man, Andrew Forrest, and his company Fortescue Metals Group (FMG).
The Australian Securities and Investment Commission (ASIC) alleges FMG and Mr Forrest failed to comply with continuous disclosure obligations when announcing contracts with two Chinese companies in 2004.
At the time the company was trying to secure funding for its multi billion dollar iron ore project in the Pilbara.
In the Federal Court in Perth today, Stephen Robb, QC, said ASIC has evidence from three expert witnesses, one of whose statements is 90 pages long.
ASIC is pursuing FMG for civil damages of $3 million and Mr Forrest for $600,000.
asic prosecutes
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