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Wednesday 17 March 2021

21-050MR Benjamin Heath Cooper charged with conspiracy to commit market manipulation

Benjamin Heath Cooper of Bexley NSW appeared on Friday 12 March 2021 in the Perth Magistrates’ Court charged with conspiracy with others to manipulate the market for the shares of Quantum Resources Limited.

ASIC alleges that, on 16 November 2015, Mr Cooper conspired with Avrohom Kimelman and Don Evans to manipulate Quantum’s share price, in contravention of sections 1041A and 1311(1) of the Corporations Act 2001 (Cth) and section 11.5(1) of the Criminal Code (Cth) (20-223MR).

Quantum is now known as Nova Minerals Limited.

At the time of the alleged offence, market manipulation carried a maximum penalty of ten years’ imprisonment. In March 2019, the maximum penalty for this offence was increased to 15 years imprisonment.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions and has been adjourned until 5 May 2021 for mention at the Stirling Gardens Magistrates Court.

Editor's note 1:

On 5 May 2021, the matter was adjourned to 11 August 2021 for committal mention before the Stirling Gardens Magistrates Court with co-accused, Mr Kimelman and Mr Evans (refer: 20-223MR).

Editor's note 2:

The committal mention hearings for both Mr Evans and Mr Cooper have been adjourned to 13 October 2021 at Stirling Gardens Magistrates Court in WA.  Mr Kimelman has pleaded guilty to conspiring to manipulate the market in Quantum shares.  The plea will be heard in the County Court of Victoria (21-157MR) and the Western Australian charges have been discontinued.

Editor's note 3:

The committal mention hearing for Mr Cooper scheduled for 13 October 2021 has been adjourned to 8 December 2021.

Last updated: 13/10/2021 01:38