Two directors of Healthzone Limited (in liquidation) and one former director have been charged with conspiring to manipulate the share price of Healthzone shares, following an ASIC investigation.
ASIC alleges that at various times between May 2007 and November 2011 directors Peter David Roach, 53 and Ge Wu (also known as Michael Wu), 35, and former director Robert Venour Dulhunty, 45, conspired to manipulate the price of the company’s shares at around the time of various corporate activities including capital raisings and acquisitions.
ASIC alleges the men, who appeared today before Sydney’s Downing Centre Local Court, used a variety of share trading accounts in their own names and other parties to manipulate the Healthzone share price.
Mr Dulhunty, of Watsons Bay, New South Wales (NSW), was charged with one count of conspiring with Mr Wu and Mr Roach to manipulate the share price of Healthzone between 1 May 2007 and 12 December 2010. He was not required to enter a plea.
Mr Roach, of Burradoo, NSW, was charged with one count of conspiring with Mr Wu and Mr Dulhunty to manipulate the share price of Healthzone between 1 May 2007 and 12 December 2010, and one count of conspiring with Mr Wu to manipulate the share price of Healthzone between 13 December 2010 and 17 November 2011. He was not required to enter a plea.
Mr Wu, of Newington, NSW, was charged with one count of conspiring with Mr Roach and Mr Dulhunty to manipulate the share price of Healthzone between 1 May 2007 and 12 December 2010, and one count of conspiring with Mr Roach to manipulate the share price of Healthzone between 13 December 2010 and 17 November 2013. He was not required to enter a plea.
All matters have been adjourned to the Downing Centre Local Court on 11 November 2014.
The Commonwealth Director of Public Prosecutions is prosecuting this matter.
Background
Healthzone listed on the ASX in November 2006 and was delisted when it was placed into administration and receivership in November 2011. Healthzone went into liquidation in March 2012.
Mr Roach and Mr Wu are also being prosecuted for conspiring to defraud Healthzone of $1 million. Mr Roach also faces two charges of making false statements to the Australian Securities Exchange and six charges of falsifying books in relation to the affairs of Healthzone.
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ASIC: Healthzone Directors Charged With Market Manipulation
Date 19/08/2014