Opes Prime co-directors plead not guilty
The former co-directors of failed broking firm Opes Prime Stockbroking Limited (OPSL), Anthony Blumberg and Julian Smith, have pleaded not guilty to charges brought by the Australian Securities and Investments Commission (ASIC).
Both men have been ordered to appear in the Victorian Supreme Court on 21 March to stand trial on four charges relating to breaching their duties as directors of OPSL and associated companies.
ASIC has alleged that in March 2008, shortly before OPSL collapsed, Blumberg, Smith and their co-director Lirim ‘Laurie’ Emini signed documents with ANZ to obtain a term loan for OPSL and its parent company Opes Prime Group, pledging the companies’ assets as security.
Emini will also stand trial on 21 March on separate charges relating to allegations that he caused the transfer of over $100 million of securities between OPSL and another company, Leveraged Capital Pty Ltd, of which he was a director.
Blumberg and Smith have been released on bail subject to the conditions that they surrender their passports, do not leave Australia, do not contact any witnesses or their co-accused, and stay in their respective homes.
AUTHOR
Ashleigh McIntyre
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