Home / World News / Ex-Bellamy’s director court case drags on

Ex-Bellamy’s director court case drags on

A court hearing for millionaire businesswoman Jan Cameron, who is facing criminal charges brought by the corporate regulator, has been further delayed.

The former director of baby formula maker Bellamy’s is accused of failing to lawfully disclose 14 million shares she owned in the company through herself and an entity titled The Black Prince Foundation.

Cameron’s expected three-week hearing won’t likely begin until October, Hobart Magistrates Court heard on Tuesday, although a final date is yet to be set.

It is expected to hear five witnesses, including one from the Australian Securities and Investments Commission (ASIC), while Cameron herself may give evidence.

It was suggested in August the hearing may be able to occur in April or June.

Cameron was originally charged by ASIC in February.

“This needs to move much quicker from today forward,” magistrate Michael Daly said.

Cameron’s lawyer James O’Shannessey has previously complained about delays in the case, including a lack of clarity provided from the prosecution about witness lists.

Cameron has pleaded not guilty to making a false or misleading statement and failing to give information about substantial holdings and faces up to five years’ jail.

Legal parties will return to court on March 4 for an administrative hearing.

ASIC alleges Cameron owned shares in Bellamy’s via Curacao-domiciled firm The Black Prince Foundation when Bellamy’s went public in August 2014.

Her alleged holding represented a 14.74 per cent stake in the company, almost triple the five per cent Corporations Act threshold that dictates when a person must lodge a substantial holder notice.

She is also accused of failing to properly disclose her true and complete relationship with the foundation, and the basis upon which she held her interest in the Bellamy’s shares.

About brandsauthority

Check Also

Iran warns Biden over nuclear deal

Iran has warned the Biden administration it will not have an indefinite time period to …

%d bloggers like this: