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xtremelivin

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05/10/23

11:55

Post #: 70186434
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Originally posted by JoeGambler: ↑

But it was only a civil case....

Look at ISX a more recent example. That company "demerged" to Cyprus so it could "list overseas" as it was suspended here, well two years on no listing and investors have recieved nothing. Again, ASIC only going civil in that case as well meant that the salaries are still flowing over in Cyprus, and will continue regardless if there is ruling aginst the director on very serious allegations of misapropriating a large swathe of shares.

why are they not going harder on these people???

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ASIC has about 2000 full time employees for a country of 26 million it just isn’t enough to chase cases like that. It’s legit a regulator without teeth.

GSW Price at posting: 29.0¢ Sentiment: Sell Disclosure: Not Held
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