Article: Crown ‘lied’ in Victoria, evidence of money laundering in Perth

Article - Media, Publications

Crown ‘lied’ in Victoria, evidence of money laundering in Perth

Elouise Fowler and Brad Thompson, 17 May 2021

Crown Resorts management “lied” and used delay tactics to stymie an investigation into the 2016 arrests of 19 China-based staff, the Victorian gambling regulator told the Crown Resorts royal commission on Monday.

Timothy Bryant, an investigator at the gambling watchdog, told the Victorian inquiry that Crown’s stonewalling meant it took longer to uncover the truth about the gambling giant’s failure to protect its staff, 16 of whom were jailed for illegally promoting gambling in China.

“I certainly consider that they [Crown], at times, they lied to me at interviews about what they were aware of and what they weren’t aware of,” Mr Bryant revealed to the inquiry, which is examining Crown’s suitability to hold its Melbourne casino licence. Continue reading “Article: Crown ‘lied’ in Victoria, evidence of money laundering in Perth”

Article: Victorian Royal Commission into Crown Melbourne begins

Article - Media, Publications

Victorian Royal Commission into Crown Melbourne begins

Peter Lynch, 17 May 2021

The Victorian Royal Commission into the suitability of Crown Resorts to hold a casino licence in Melbourne commenced today.

The commission revealed its first four witnesses as Timothy Bryant and Jason Cremona from the Victorian Commission for Gambling and Liquor Regulation (VCGLR), Dr Murray Lawson, director of Ethics and Risk Culture at accounting firm Deloitte Australia, and Nick Stokes, head of financial crime and money laundering reporting officer at Crown Resorts Limited.

Opening questions for Bryant and Cremona will focus on the VCGLR’s monitoring of the operator, its investigation into the arrests of 19 staff members in China in 2016, as well as junket operations. Continue reading “Article: Victorian Royal Commission into Crown Melbourne begins”

Article: Caught in a bear trap: How ‘short and distort’ attacks are costing Australian investors billions

Article - Media

Caught in a bear trap: How ‘short and distort’ attacks are costing Australian investors billions

Adele Ferguson

Sydney Morning Herald,

Australia has become a paradise for a new, aggressive form of short selling. And regulators’ failure to act is costing investors billions.

Dubbed the “short and distort” gang, a group of largely foreign-based research houses issue highly damaging reports, designed to cause maximum damage to the companies they target.

Read full article.