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Chariot MD Failed To Act Honestly Claims ASIC |
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Written by Adam Gosling
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Tuesday, 25 July 2006 |
Adelaide ISP and future VoIP Serivce Provider, Chariot, which has been in the news recently, has now
announced that ASIC has formally filed charges against its Managing Director
Robert Horlin-Smith.
Chariot issued this statement to the Stock Exchange today: "Further
to the company's announcement of 28th January 2005, the Directors of Chariot
Limited advise that on 24th July 2006, its Managing Director, Mr Robert
Horlin-Smith, was committed for trial on seven charges relating
to allegations made by the Australian Securities and Investments Commission
against him relating to matters
whilst he was previously Secretary of a company unrelated to Chariot Limited."
The early statement, of January 28 last year, said that ASIC
had issued a summons containing allegations relating
to 1999 financial statements of an unrelated company.
Horlin-Smith advised at that time and reiterated today that
he intends to vigorously contesting the charges.
According to an ASIC statement released at the time,
Horlin-Smith failed to act honestly in the exercise of his powers and the
discharge of the duties of his office with the intention to deceive or defraud
the auditor of Normans Wines.
Horlin-Smith, who has required to enter into a bail
agreement in the sum of $1,000, was Company Secretary of Normans Wines Limited which
went into liquidation.
Appearing in the Adelaide Magistrates Court he faced a total
of seven charges arising from an ASIC investigation.
ASIC also alleged that Horlin-Smith supplied misleading
information to the company's auditor, the Australian Stock Exchange and authorised
the making of a statement in a document lodged with ASIC which was false or
misleading.
Horlin-Smith was with Normans Wines for a total of five
years.
The ASX-listed Chariot was recently accused of misleading
the stock market by an unhappy business partner after it failed to inform the stock exchange of changes to its business relationship with Voice over IP company, Transcom.
The two had initially intended to jointly launch a VoIP service
to the Australian market before the relationship broke down.
Chariot subsquently announced it would provide a broadband phone service without using technology from Transcom as initially planned.
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