The corporate watchdog has accused 10 former Star Entertainment board members and executives of being blind to the red flags that pointed to money laundering and illicit activities at its casino.
The allegations were put forward by ASIC’s lawyers in their opening statement to the court on Monday at the start of a landmark six-week trial between the corporate regulator and former Star executives, including former chief executive Matt Bekier and former chairman John O’Neill, and directors.
ASIC launched civil proceedings in the Federal Court in December 2022, accusing the former Star board members and executives of breaching their duty to act with care and diligence.
“The defendants collectively conducted themselves in (such) an incurious and complacent manner that sharp practices became entrenched in the group’s culture,” Dr Ruth Higgins, SC, who is acting for ASIC, told the court.
