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Ex-Star boss fined $700k for ignoring criminal risks
Justice Michael Lee said the penalties were reduced because ASIC had struck lenient deals with two other senior Star executives.
- On Wednesday, Federal Court Justice Michael Lee fined former Star casino boss Matt Bekier $700,000 and banned him from managing corporations for six years, while imposing a $400,000 fine and seven-year ban on former legal chief Paula Martin.
- The penalties follow findings that Bekier and Martin breached duties by failing to disclose risks involving junket operator Suncity and its VIP room, Salon 95, while also misleading National Australia Bank regarding prohibited China UnionPay card usage.
- Justice Lee criticized the Australian Securities and Investments Commission for reaching "objectively generous" deals with former executives Greg Hawkins and Harry Theodore, which forced him to impose "materially less severe" penalties on Bekier and Martin.
- Beyond fines, the court ordered Bekier and Martin to jointly fund 45 per cent of the Australian Securities and Investments Commission's legal costs, while Justice Lee described the company's culture as "dysfunctional and unethical."
- The sentencing concludes the regulator's case against the casino operator's senior leadership, with Justice Lee noting that significant penalties demonstrate the regulatory system holds major corporate players accountable amid ongoing uncertainty in Sydney and Brisbane.
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Sydney Morning Herald+2 Reposted by 2 other sources
Former Star casino boss hit with six-year ban, $700k fine
Former Star casino boss Matt Bekier has been fined $700,000 and banned from managing a corporation for six years, but the judge wanted much harsher punishment.
·North Sydney, Australia
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Former Star CEO and legal chief fined A$1.1m
The Federal Court of Australia has imposed penalties on former Star Entertainment CEO Matt Bekier and former General Counsel and Chief Legal and Risk Officer Paula Martin. Bekier has been fined A$700,000 and disqualified from managing corporations for six years. Martin has been fined A$400,000 and disqualified for seven years. Both directors have also been ordered to pay 45 per cent of the legal costs incurred by ASIC. In December 2022, ASIC com…
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Coverage Details
Total News Sources14
Leaning Left4Leaning Right2Center2Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 25%
R 25%
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