Commonwealth prosecutors feared a person, accused of insider buying and selling, would depart and never return to Australia, having found he had a one-way ticket abroad.
Cameron Waugh appeared in Perth’s Stirling Gardens Magistrates Court on Wednesday, the place he’s going through six expenses of insider buying and selling.
Seeking a 12-week adjournment, Crown prosecutor Rhionagh Rowley mentioned the socialite’s bail situations particularly prevented him leaving the nation.
Prosecutors found he had a one-way ticket to South Africa dated for a similar day as his dramatic arrest, which Ms Rowley described as an “extreme concern”.
Mr Waugh, 34, was arrested on December 16 whereas attending a marriage at Bunker Bay, in WA’s South West, about 250km south of Perth.
It was additionally revealed in courtroom on Wednesday Mr Waugh is a dual-national citizen of South Africa.
Lawyer Seamus Rafferty, representing Mr Waugh, slammed the arrest as “extraordinary, unnecessary, and embarrassing circumstances”.
The prolonged adjournment would additionally enable the prosecution to sift by way of 181,000 paperwork regarding the case in opposition to Mr Waugh, and provides their professional time to current a report on the specifics of the insider buying and selling allegations.
The Australian Securities and Investments Commission alleges Mr Waugh traded in Genesis Minerals on the ASX throughout per week in September 2021, whereas possessing insider data concerning the gold mining firm.
Mr Rafferty indicated his shopper could be pleading not responsible, though a plea wasn’t entered, with Magistrate Janet Whitbread adjourning the matter till a committal point out in the identical courtroom on April 26.
Source: www.perthnow.com.au
