Kathmandu founder Jan Cameron failed to disclose her interest in an offshore entity called Black Prince, when it bought a shareholding in baby formula company Bellamy's in 2014.As a result of the sentence, Cameron will be disqualified from managing corporations for five years, but she is currently awaiting the outcome of an appeal against the guilty verdict.
He said she had tried to "disguise" her substantial shareholding in Bellamy's Organics in 2014, and then "held her ground" when she misled ASIC in 2017.In weighing up her punishment, Mr Daly noted Cameron had no prior convictions, and that apart from the two instances of offending, she was a person of "the highest character" according to references tendered in court, including one from an unnamed senator.
The conviction will automatically disqualify Cameron from managing a corporation for five years, which the court heard could also impact her role in several philanthropic endeavours.The charges against Cameron related to her undisclosed interest in a Dutch Caribbean entity known as Black Prince Private Foundation, which purchased $14 million worth of shares in Bellamy's Organics in 2014.
Under the terms of the loan agreement, Black Prince could not sell the Bellamy's shares without LENGKAP's approval.
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Source: FinancialReview - 🏆 2. / 90 Read more »