Former Opes Prime director Julian Smith walked away from the Victorian Supreme Court yesterday a free man, not guilty of any crime associated with the $700 million collapse of the company.
The acquittal of Smith on charges he duped a bank into lending him $95 million just days before Opes Prime collapsed is a loss for the corporate regulator ASIC, and will spark further debate about courts’ treatment and ASIC’s pursuit of those accused of corporate crimes.
via ASIC loss in Opes case renews corporate crime debate — The Australian.
ASIC makes FINRA, the OSC, and even the Saskatchewan Securities Commission look good.