ASIC started civil penalty proceedings against 11 directors and officers of The Star Entertainment Group Limited

Australian Securities & Investments Commission announced that it had started civil penalty proceedings in the Federal Court against 11 current and previous directors and officers of The Star Entertainment Group Limited for alleged breaches of their duties under section 180 of the Corporations Act.

"ASIC alleges that Star's board and executives failed to give sufficient focus to the risk of money laundering and criminal associations, which are inherent in the operation of a large casino with an international customer base." ASIC Deputy Chair Sarah Court said.

This case comprises claims against the Star's Board members from 2017 to 2019: John O Neill (former Chair), Matthias Bekier (former Managing Director and CEO), Kathleen Lahey, Richard Sheppard, Gerard Bradley, Sally Pitkin, Benjamin Heap, and Zlatko Todorcevski. ASIC claims that the Board members permitted the extension of Star's association with some individuals with reported criminal links rather than addressing money laundering risk by investigating whether Star should be dealing with them. ASIC also claims that when board members received information about money laundering risks impacting Star, then also they did not take any steps to make additional investigations of management about those critical risks and that this was a breach of their director duty obligations.

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