iSignthis chief executive John Karantzis misled the market about the make-up of the payment company’s revenue and failed to correct it for more than a year, the corporate regulator alleged in court.

Michael Borsky, KC, acting for the Australian Securities and Investments Commission, said Mr Karantzis understood that statements he made at an analyst briefing on August 3, 2018 were misleading because the regulator alleges a broker report sent by the author to the iSignthis boss days later detailed the incorrect interpretation that only 15 per cent of the previous quarter’s revenue was one-off in nature.