ASIC brings charges against former CEO

— 1 minute read

A former CEO has committed to stand trial on three charges following an ASIC investigation into his company.

Mr Adrian Maxwell Ballintine, former CEO of NewSat Limited, has committed to stand trial following a heading before the Melbourne Magistrates’ Court.

Three charges were brought by ASIC following an investigation into NewSat.


ASIC alleges that Mr Ballintine, on three occasions in 2012, authorised the making of three invoices that were false or misleading contrary to 1308(2) of the Corporations Act.

ASIC alleges those invoices caused NewSat to make payments amounting to $357,000 to a private company associated with Mr Ballintine.

Each of the charges carries a maximum penalty of five years’ imprisonment.


ASIC brings charges against former CEO
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Eliot Hastie

Eliot Hastie

Eliot Hastie is a journalist at Momentum Media, writing primarily for its wealth and financial services platforms. 

Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.

Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).

You can email him on: [email protected]

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