ASIC says the ban is due to his actions in 3 failed companies.has been banned from managing corporations for four years after scathing findings on the mining entrepreneur from the regulator.
It cited his role in three companies, including collapsed ASX-listed miner Merlin Diamonds and Axis Consultants.ASIC, in its disqualification decision, listed claims including that Mr Gutnick had allowed Merlin to lend $13.7 million to Axis, causing detriment to Merlin and benefitting Axis. The decision marks another chapter in the tumultuous career of Mr Gutnick, who along with his interests in mining, was president of the Melbourne Football Club from 1996 to 2001.
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