Former Metigy CEO seeks legal aid in criminal lawsuit
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The news: Former artificial intelligence marketing company Metigy's chief executive officer David Fairfull is seeking a brief adjournment in a lawsuit against him as he is seeking legal aid.
The context: Fairfull appeared in the Downing Centre Local Court in Sydney on Tuesday as part of a lawsuit over allegations that he misled investors and dishonestly used his position in the company.
The matter was adjourned until 11 February as the Commonwealth Director of Public Prosecutions (CDPP) finalises its brief of evidence against Fairfull.
The lawsuit against Fairfull first appeared in November following an investigation by the corporate regulator which referred the case for criminal prosecution to federal prosecutors.
The Australian Securities and Investments Commission (ASIC) alleged Fairfull provided false information about the revenue and income of the Metigy companies to potential investors and used his position as a director to obtain a loan for his own personal benefit.
In Federal Court examination into the company's collapse last year, Fairfull admitted to using a company loan to buy two luxury properties.
The source: Local Court
