A lawyer acting for banned investment promoter James Mawhinney says the corporate watchdog has engaged in reckless headline hunting by resurrecting its description of his investment scheme as “Ponzi-like”.
Michael Pearce SC said Mr Mawhinney’s Mayfair Group has already had “more bad publicity than Jack The Ripper,” as he argued for a lenient penalty associated with a Federal Court ruling that resulted in Mr Mawhinney’s 20-year ban from promoting financial products.
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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
