The market regulator has taken legal action against two executives responsible for issuing $7 million worth of shares in ASX-listed Wiluna Mining to a mysterious investor who never paid for them.
The Australian Securities and Investments Commission filed a federal court lawsuit on Monday against former Wiluna chairman Milan Jerkovic and Wiluna investor relations manager James Malone for their roles in allegedly false and misleading statements made to the ASX.
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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
