05/08/2022 - 12:24

Evans pleads guilty over Quantum share scheme

05/08/2022 - 12:24

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Inglewood-based investor Don Evans has pleaded guilty to conspiring to manipulate the share price of Victoria-based explorer Quantum Resources in 2015.

Evans pleads guilty over Quantum share scheme
He is scheduled to find out his fate in the Supreme Court on January 31.

Inglewood-based investor Don Evans has pleaded guilty to conspiring to manipulate the share price of Victoria-based explorer Quantum Resources in 2015.

According to the corporate watchdog, Mr Evans conspired with former Quantum director Avrohom Kimelman and fellow investor Benjamin Heath Cooper to manipulate the company’s shares by creating an artificial price amid talks of a takeover deal.

Mr Evans fronted Magistrates Court Stirling Gardens yesterday, entering a plea of guilty to the charge, which carried a maximum penalty of 10 years' jail at the time of the offence.

He is scheduled to find out his fate in the Supreme Court on January 31.

It comes almost one year after Mr Kimelman received an 18-month suspended jail term over his role in the conspiracy.

Mr Cooper pleaded guilty to the same charge in June and will face the Supreme Court later this month.

In 2019, the maximum penalty for conspiring to commit market manipulation was lifted to 15 years' jail.

The company has since changed its name to Nova Minerals.

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