Controversial payments group iSignthis misled investors about its revenue and failed to tell them a major deal with Visa had been terminated, the Federal Court has found.
Ending a tumultuous period which began with the company’s suspension from the ASX in 2019 and included the departure of managing director John Karantzis to Cyprus, the Federal Court said the company had misled investors and breached continuous disclosure obligations.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
Max Mason covers insolvency, courts, regulation, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max's journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
