Troubled casino operator Star Entertainment says a penalty greater than $100 million would force it into insolvency, as it fights in court to limit fines set to be imposed for years of inadequate anti-money laundering controls.
The financial crime watchdog is seeking a $400 million fine and said Star’s claim that it would collapse under such a financial burden should not factor into the Federal Court’s decision.
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Max Mason covers financial crime, courts 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
Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
