A West Australian businessman accused of defrauding 9 traders of $36.5m in an alleged Ponzi scheme has entered pleas of not responsible to 50 fraud prices in a Perth courtroom.
Chris Marco, 65, appeared earlier than Stirling Gardens Magistrates courtroom in particular person on Wednesday alongside co-accused and his former private assistant, Linda Marissen.
Ms Marissen is going through 34 prices of particular person with intent to defraud obtains property from any particular person over her alleged involvement by way of the corporate of her former boss, AMS Holdings (WA) Pty Ltd.
Lawyers Luka Margaretic and Gerald Yin, who signify Mr Marco and Ms Marissen respectively, entered the not-guilty pleas on behalf of their purchasers.
The matter will now go to trial, with bail renewed for each Mr Marco and Ms Marissen below the identical phrases till their first look earlier than the WA Supreme Court on November 6.
Trial dates weren’t set.
The Australian Securities and Investments Commission (ASIC) alleges the fraud occurred between July 2013 and October 2018 by way of an unregistered funding scheme.
ASIC additional alleges no less than one investor was conned out of $10m.
In a earlier listening to for Mr Marco, the Commonwealth prosecutor claimed there have been about 160,000 paperwork to sift by way of in relation to the case.
The most penalty, if convicted, for every offence of fraud below the Criminal Code WA is seven years imprisonment or 10 years if the particular person deceived is 60 years or older.
Source: www.perthnow.com.au
