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🇦🇺 Australia /Crime & Justice

Ex-Star casino executives fined, disqualified over money laundering scandal

From ABC Australia · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Official statement Outcome reported
  • Two former executives of The Star Entertainment Group have been penalized for breaching corporate laws related to money laundering risks.
  • The Federal Court found they failed in their duties under the Corporations Act concerning the handling of criminal activity at the casino.
  • The former CEO received a six-year disqualification and a $700,000 fine, while the former Chief Legal & Risk Officer was disqualified for seven years and fined $400,000.

Former executives of The Star Entertainment Group have faced significant penalties for failing to adequately address money laundering risks. Justice Michael Lee of the Federal Court found that both former CEO Matthias Bekier and former Chief Legal & Risk Officer Paula Martin contravened their duties under Section 180 of the Corporations Act 2001.

Bekier, who previously served as CEO and Managing Director, was found to have committed three contraventions. Consequently, he has been disqualified from acting as a director for six years and ordered to pay a fine of $700,000. Martin, the former Chief Legal & Risk Officer, also faced three contraventions and received a seven-year disqualification order along with a $400,000 fine.

The court's findings centered on the executives' failure to properly manage the risks associated with money laundering and other criminal activities within the prominent Australian casino. This ruling underscores the legal responsibilities of senior management in preventing illicit financial operations and maintaining corporate compliance.

Former Star CEO Matthias Bekier was accused of failing to address the risk of money laundering.

— AAPThis quote highlights the core accusation against the former CEO.
DistantNews Editorial

Originally published by ABC Australia in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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