Court rubber stamps penalties for former Star execs
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The news: The Federal Court of Australia has approved penalty settlements between the Australian Securities and Investments Commission and two former executives of The Star Entertainment Group — Gregory Hawkins and Harry Theodore.
In a court hearing today, the court ordered Hawkins, Star's former chief casino officer, pay a $180,000 penalty and be disqualified from managing corporations for 18 months.
Theodore, the company's former chief financial officer, was ordered to pay a $60,000 penalty and disqualified from managing corporations for nine months.
The context: ASIC announced the lawsuit in December 2022, targeting 11 current and former directors and officers of Star at the time over alleged breaches of corporate duties linked to money-laundering risks.
Hawkins' settlement was announced last week. Theodore's was reached earlier this month.
The trial of ASIC’s proceedings continues in relation to the remaining nine former Star directors and officers, with a trial due to recommence on 5 March.
The source: ASIC
