Gold Coast brothers Ashley Kevin Nugent and Sonny Nugent, each charged with two instances of failing to produce books and records to ASIC, have had their charges dismissed, or have been found not guilty of those charges, by the Southport Magistrates Court.

On 23 August 2021, Magistrate Finger presided over the summary trial of Sonny Nugent. Mr Nugent was found not guilty to one charge and the other charge was dismissed.

On 2 September 2021, both charges against Ashley Kevin Nugent were withdrawn before Magistrate Pink.

The matter was prosecuted by the Commonwealth Director of Public Prosecution and commenced proceedings in March 2021 (21-035MR).