Regulatory Alerts2025-10-31
Freezing orders against Gregory Cotton and First Mutual Private Equity continue
The Federal Court has extended freezing orders against Gregory Cotton and First Mutual Private Equity Pty Ltd following an application by ASIC. These orders prevent the transfer of funds from frozen accounts as regulators investigate allegations that approximately $131 million raised from investors was not invested in ASX-listed shares but spent on gambling and payments to other investors. The matter is scheduled for further court proceedings regarding the appointment of receivers, with the hearing adjourned to 15 December 2025.
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