Perth man committed to stand trial

Stuart Adrian Corp has been committed to stand trial on 85 charges under the Corporations Act, the Australian Securities and Investments Commission Act, and Crimes Act. Mr Corp will appear in the District Court of Western Australia on September 3.

The Corporations Act charges relate to alleged conduct by Mr Corp concerning shares in Hallmark Gold, now called Hallmark Consolidated Limited, and Welcome Stranger Mining Company, now known as Commsecure Limited, while he was a director of those companies.

ASIC alleges Mr Corp had an undisclosed beneficial interest in shares in Hallmark Gold and Welcome Stranger which were held through the use of offshore entities registered in the British Virgin Islands and Gibraltar – namely Courtenay Investments Limited, Davenrite Limited and Happle Limited.

ASIC alleges he used the shares to vote on related party resolutions at general meetings of Hallmark and Welcome Stranger, which delivered him a benefit.

ASIC also alleges Mr Corp provided false or misleading information to ASIC and the Australian Stock Exchange in documents required to be filed by Corporations law.

The ASIC Act and Crimes Act charges have been brought as a result of Mr Corp’s alleged misconduct during the course of the ASIC investigation.

ASIC alleges Mr Corp made false or misleading statements at compulsory ASIC examinations, obstructed ASIC and procured another to destroy documents relating to the ASIC investigation.

Earlier this year a restraining order was granted by the District Court over funds of more than $650,000 held on trust by ASIC for Courtenay, Davenrite and Happle.

The funds arose from the sale of shares that amounted to 13.6 per cent of the issued capital of Welcome Stranger at the time of the initial restraining orders made by ASIC.

The restraining order made on January 5, under the Proceeds of Crime Act, was sought by the Commonwealth Director of Public Prosecutions with the assistance of the Austrlaian Federal Police.