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You can find the current article at its original source at https://www.theguardian.com/australia-news/2018/apr/06/clive-palmer-hit-with-criminal-charges-over-sunshine-coast-resort

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Clive Palmer hit with criminal charges over Sunshine Coast resort Clive Palmer hit with criminal charges over Sunshine Coast resort
(about 3 hours later)
Clive Palmer has been charged with criminal offences by the corporate watchdog in relation to his troubled Sunshine Coast resort. Clive Palmer has said criminal charges brought against him by the corporate watchdog are baseless, politically motivated and will fail.
The businessman and former federal politician is facing one charge of aiding, abetting, counselling or procuring the commission of an offence by another person. The Australian Securities and Investments Commission has charged the former federal politician with one count of aiding, abetting, counseling or procuring the commission of an offence by another person.
During a brief mention at Brisbane magistrates court on Friday, at which Palmer did not appear, his lawyer Christopher Wilson said they would be arguing there was no case to answer when the matter goes to a hearing in June. It relates to the unfulfilled 2012 proposal to buy shares of another company that owned properties at his troubled Coolum resort.
Palmer Leisure Coolum Pty Ltd has also been charged by the Australian Securities and Investments Commission with proposing or announcing a bid then failing to make an offer within two months. Under corporations law he was required to make an offer within two months of announcing his intentions but failed to do so, ASIC said on Friday.
Palmer has applied to the supreme court for the charges to be permanently stayed and that is expected to come before the court in 19 April. Palmer Leisure Coolum Pty Ltd has also been charged with proposing or announcing a bid then failing to make an offer within two months.
“The charges carry a maximum penalty of two years’ imprisonment and fine of $11,000 for an individual, and fines of $55,000 in respect of a corporation,” Asic said. “The charges carry a maximum penalty of two years imprisonment and fine of $11,000 for an individual and fines of $55,000 in respect of a corporation,” Asic said.
The June hearing is expected to run for one hour and Palmer is due to appear. During a brief mention in Brisbane magistrates court on Friday, for which Palmer did not appear, his lawyer Christopher Wilson said he would argue there was no case to answer when the matter went to a hearing in June.
Palmer has also applied to the supreme court for the charges to be permanently stayed and that is expected to go before the court on 19 April.
The businessman said the charges related to an offer to buy about $4,000 worth of shares.
He said he would vigorously defend the charges, which he claimed were laid for political reasons.
“The charges are an attempt to try to make me ineligible to stand for parliament and they won’t succeed,” he said in a statement on Friday.
“Asic has known about the events for nearly six years, so serious questions must be asked as to why they are acting now and at whose direction.”
Palmer was unfazed by the latest legal action brought against him.
“The charges have no merit and I will bring to account the individuals undermining the judicial system,” he said.
Palmer is set to appear at the June hearing.
Clive PalmerClive Palmer
QueenslandQueensland
Sunshine CoastSunshine Coast
Business (Australia)Business (Australia)
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