Former federal politician and millionaire Clive Palmer has been charged with criminal offences, pictured leaving court this year
Former federal politician and millionaire Clive Palmer has been charged with criminal offences by Australia’s corporate watchdog in relation to his Sunshine Coast dinosaur-themed resort.
The charge is said to relate to Mr Palmer’s attempts to take over ownership of timeshare villas at the Palmer Leisure Coolum resort, resulting in a drawn-out dispute with residents and owners, the Courier Mail reported.
If convicted, Mr Palmer faces a maximum penalty of two years’ in jail, an individual $11,000 fine and a $55,000 fine in respect of a corporation.
Mr Palmer’s company Palmer Leisure Coolum Pty Ltd has been charged over allegedly breaching the Corporations Act by publically proposing or announcing a takeover bid, but failing to make an offer for securities in the company within two months.
ASIC also alleges that Mr Palmer aided, abetted, counselled or procured the company to do so. The two-month time period as required under section 631(1) of the Corporations Act 2001.
During a brief mention at Brisbane Magistrates Court on Friday, for which Mr Palmer did not appear, his lawyer Christopher Wilson said they would be arguing there was no case to answer when the matter goes to a hearing in June.
Magistrate Mark Howden agreed Palmer could remain on bail until the next appearance.
The matter was listed for a pre-trial hearing in on June 13 and is expected to run for one hour with Mr Palmer set to appear.
The troubled Palmer Coolum resort features animatronic dinosaurs designed to simulate Jurassic Park.
Further information is being sought from ASIC.
The charge is said to relate to Mr Palmer’s attempts to take over ownership of timeshare villas at the Palmer Leisure Coolum resort (pictured) resulting in disputes with residents and owners
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