Westpoint promoter Burnard to stand trial: ASIC
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Sydney-based former Westpoint promoter Neil Austin Burnard has been committed to stand trial on 11 charges, the Australian Securities and Investments Commission has announced.
The full text of an ASIC announcement is pasted below
Mr Neil Austin Burnard was today committed to stand trial in the NSW District Court on eleven charges brought by the Australian Securities and Investments Commission (ASIC).
The charges relate to Mr Burnard making and publishing statements in relation to Kebbel Investment Bank, knowing the statements to be false in a material particular, namely that Kebbel Investment Bank did not exist.
ASIC alleges that Mr Burnard made the statements in order to obtain a financial advantage for various Westpoint mezzanine finance companies, specifically a monetary investment in the companies.
Mr Burnard has reserved his plea to the charges.
The matter has been set down for arraignment in the NSW District Court on 12 October 2007.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.