ASIC has started civil penalty proceedings in the Federal Court against 11 current and former directors and officers of The Star Entertainment Group for alleged breaches of their duties.
ASIC also alleges that board members, when provided with information about money laundering risks affecting Star, did not take steps to make further enquiries of management about those critical risks and that this was a breach of their director duty obligations. Those statements disguised the fact that Star was permitting CUP cards to be used for gambling, which was prohibited by CUP.
Source: Digital Coin News (digitalcoinnews.net)
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