THE son of ASX chairman Maurice Newman owned 50 per cent of a stockbroking licence later used to create Opes Prime, the broking house put into receivership on Friday and involved in the biggest ASX scandal in decades.
Mr Newman told The Australian: "Yes, I was a fellow director with Julian Smith, Anthony Blumberg and Laurie Emini in 2004 in a Nominee Company called Green Frog Nominees, a subsidiary of Nexus Stockbroking Services. I was involved with Nexus Stockbroking Services and Green Frog Nominees for a limited time, and for a limited purpose. That purpose was to re-establish a dormant stockbroking licence and obtain a Australian Financial Services Licence."
He reinvigorated the broking licence at the time his father was on the board of the ASX.
