Two former senior Statewide Superannuation Pty Ltd executives have appeared before the Adelaide Magistrates' Court charged with dishonesty offences related to their procurement of services between February 2019 and December 2019.

ASIC alleges that former Statewide Chief Financial Officer Grant David Eastwood dishonestly used his position in the procurement of a firm, Cosight Pty Ltd (formerly known as Fintrix Systems Pty Ltd), to provide services to Statewide. ASIC also alleges that the former Chief Risk Officer Kieran Francis Netting dishonestly used his position regarding a review he conducted connected to the appointment of Cosight to deliver services to Statewide.

Mr Eastwood commenced as Statewide CFO on 16 February 2016 and Mr Netting commenced as CRO on 13 February 2017. Statewide terminated both men's employment in January 2020 following an internal investigation.

Statewide subsequently reported this conduct to ASIC.

On 29 April 2022, Statewide merged with Hostplus.

Mr Eastwood and Mr Netting both appeared before the Adelaide Magistrates’ Court on 9 December 2022, charged with six counts and one count respectively of using their positions dishonestly for the benefit of another, contrary to s184(2)(a) and (b) of the Corporations Act. 

The matter has been adjourned to 28 February 2023.

The Commonwealth Director of Public Prosecutions is prosecuting the matter following a referral by ASIC.

Editor's note 1:

The matter was adjourned to 22 May 2023 for a hearing to answer the charges.

Editor's note 2:

The matter is listed on 25 May 2023 for the defendants to answer the charges.

Editor's note 3:

The matter was adjourned to 13 July 2023 for the defendants to answer the charges.

Editor's note 4:

On 13 July 2023, the defendants did not enter a plea and the matter was adjourned to 23 August 2023 for legal argument.

Editor's note 5:

On 23 August 2023, the matter was adjourned to 18 September 2023.

Editor's note 6:

On 18 September 2023, the matter was adjourned to 19 December 2023.

Editor's note 7: 

On 19 December, the matter was adjourned to 29 February 2024. 

Editor's note 8:

Messrs Eastwood and Netting appeared before the Adelaide Magistrates’ Court on 29 February 2024 and pleaded not guilty to all charges. Both defendants were committed for trial in the District Court of South Australia. Arraignment scheduled for 9.00 am on 24 May 2024.