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16-303MR Jury finds former Managing Director unfit to stand trial
On 22 August 2016, a jury in the County Court of Victoria in Melbourne found that Mr Paul Gerard Choiselat was unfit to stand trial based on the criteria set out in the Crimes (Mental Impairment and Unfitness To Be Tried) Act 1997.
Mr Choiselat was due to stand trial on charges of market manipulation and disclosing false information offences (See MR13-327).
Having found there was a prima facie case against Mr Choiselat, Judge Carmody made an order under the Crimes Act 1914 to release Mr Choiselat on the condition that he resign effective immediately from all statutory offices of companies registered or operating in Australia and that he not take up or apply for any such position with a company registered or operating in Australia for a period of 3 years.
This matter was a referral from the ASX, and was prosecuted by the Commonwealth Director of Public Prosecutions.
ASIC would like to acknowledge the assistance of the Commonwealth Attorney-General’s Department, the Hong Kong Department of Justice, Hong Kong Securities and Futures Commission and the British Virgin Islands Financial Services Commission.