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Braysich faces jail time

Madeleine Collins
— 1 minute read
Former Saxby Bridge chief found guilty of market rigging in his broker days.
Former banned dealer group head Jeff Braysich is facing jail after a Perth court convicted him of rigging the market almost nine years ago.

Perth entrepreneur Dean Scook, 56, and Braysich, 46, formerly managing director of the Saxby Bridge financial service group, were on Saturday found guilty by a jury in the Perth District Court of unlawful trading in Intrepid Mining Corporation (Intrepid).

Scook was convicted on 158 charges of creating, or doing something that was likely to create a false or misleading appearance of active trading in Intrepid during January and February 1998.

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Braysich was charged with 25 counts of creating a false or misleading appearance of active trading in Intrepid during February 1998.

At the time Braysich was Scook's Sydney-based stockbroker at Paul Morgan Securities.

Intrepid was later known as Cobra Resources and is now called Resource Mining Corporation, a minerals exploration company.

The charges were laid following a referral from the Australian Securities Exchange and an ASIC investigation.

Braysich has spent years fighting for his reputation after being banned from the financial advice industry in 2001 for five years over allegations of conflicts of interest and inadequate disclosure at Saxby Bridge.

He successfully appealed the ban in 2003.

Most recently he played a minor role as a consultant to a retail property investment trust started by former rugby league star Ben Elias and Manly Sea Eagles owner Max Delmege.

The matter has been adjourned for sentencing on November 16, 2007.

Scook was remanded in custody and Braysich was allowed bail pending sentencing.

 

Braysich faces jail time
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