ASIC lets Crown directors, execs off the hook; AUSTRAC sues casinos

Hannah Wootton and Elouise Fowler

Updated Mar 1, 2022 – 6.56pm, first published at 10.24am

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The corporate regulator has told about 10 former Crown Resorts directors and senior executives they will not face charges for breaching director duties, on the same day as AUSTRAC sued the gaming giant over allegations that “high-risk” VIP patrons churned through more than $70 billion through its casinos.

The Joe Longo-led Australian Securities and Investments Commission told the former top executives it would not take them to court, following an investigation into whether they personally may have breached their obligations under the Corporations Act while they presided over the James Packer-backed casino empire.

Hannah Wootton is a Rear Window columnist, based in Melbourne.

Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office.