On 2 July 2021, Mr Gabriel Govinda of Melbourne, Victoria, appeared at a filing hearing in the Melbourne Magistrates’ Court faced with 23 charges of market manipulation and 19 charges of illegal dissemination of information relating to the manipulation.

The allegations relate to trading in 20 different securities quoted on the ASX between September 2014 and July 2015.

The Commonwealth Director of Public Prosecutions is prosecuting the matter after a referral from ASIC.

The matter is next in court on 3 September 2021 for Committal Mention.

Background

The alleged contraventions are:

• 23 charges of 1041B of the Corporations Act 2001, (false or misleading appearance of active trading in, or with respect to the market or price for, securities); and
• 19 charges of 1041D of the Corporations Act 2001 (Dissemination of information about illegal transactions).

Mr Govinda faces a maximum penalty for each charge of 10 years' imprisonment or a fine of up to $765,000, or both.

Editor's note:

The matter had been adjourned to 26 November 2021.

Editor's note 2:

On 26 November 2021, the matter was mentioned in the Melbourne Magistrates Court. The Magistrate adjourned the matter to Melbourne County Court on 6th June 2022 to be listed for a guilty plea hearing.