Regulatory Alerts2025-11-27
ASIC takes contempt action against David McWilliams and Laura Fullarton over alleged freezing order breaches
ASIC has commenced Federal Court contempt proceedings against David McWilliams and Laura Fullarton for allegedly breaching court-imposed freezing orders on assets linked to the ALAMMC Group. The regulator alleges the couple withdrew hundreds of thousands of dollars from frozen accounts, diverted racehorse prize money, and failed to disclose interests in crypto assets and other bank accounts. Deputy Chair Sarah Court stated these actions undermine the asset preservation regime and impede efforts to protect investor funds pending the outcome of enforcement actions.
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