Lawyers have once again locked horns over the use of the term “Ponzi” to describe the investment scheme operated by banned fund promoter James Mawhinney as he seeks to avoid a Federal Court penalty of up to $12 million.
Mr Mawhinney’s lawyer, Michael Pearce SC, lambasted the corporate regulator for a second time over its lawyer Jonathon Moore’s use of the term “Ponzi-like”, branding it “appalling”.
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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
