James Mawhinney files complaints against ASIC lawyers

James Mawhinney has filed the complaint after ASIC issued a media release last week alleging the contempt of court despite his lawyers not being “properly” served the proceedings.

Mr Mawhinney has alleged that ASIC lawyers did not give his lawyers access to 800 pages of court filings until a full business day after the media release was issued.

“It is concerning that a regulator considers it needs to act in this way toward our client when the strength of their case alone ought to be sufficient to achieve their regulatory objectives,” Robert Gray Lawyers senior partner, Rhys Roberts, said.

ASIC is seeking an order punishing Mr Mawhinney for contempt after he allegedly continued to raise funds through financial products, despite in April being ordered by the Federal Court to stop doing so for 20 years. 

Mr Mawhinney was also barred from removing or transferring from Australia any assets acquired directly or indirectly with funds received in connection with any financial product.

Shortly after ASIC confirmed the application last week, Mr Mawhinney denied any contempt of court.

The appeal of the 20-year ban is expected to be heard in the Federal Court early next year.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.