The Australian Financial Review issues an apology for false claims made by columnists about ISignthis boss John Karantzis
The Australian Financial Review has settled out of court and issued an apology after another series of Joe Aston columns landed the paper in hot water.
The boss of fintech company ISignthis, John Karantzis, has received an out-of-court financial settlement and apology from The Australian Financial Review for suggesting he was involved in money laundering.
It’s the second dispute that has left the AFR out of pocket over recent columns written by high-profile columnist Joe Aston. In February the AFR was ordered to pay costs after a defamation over Aston columns action brought by Dr Elaine Stead, after being ordered to pay damages in January. Costs alone were reported to be more than $1 million.
Nine Entertainment Co, which owns the AFR, published two articles written by Aston and Myriam Robin, “Etherstack pump straight from iSignthis playbook” and “More alternative facts from iSignthis boss John Karantzis” on July 2 and 7 last year, with both referring to Mr Karantzis and money laundering.
In a legal letter sent to Mr Karantzis this week, eight months after the articles were published, Nine Entertainment’s executive counsel Larina Alick issued an apology for the harm caused.
“We understand you considered the article suggested you were aware of or involved in money laundering,” she wrote.
“The Financial Review unreservedly apologises for the hurt and distress caused by reason of the publication and article and for any damage to you(r) reputation.”
Mr Karantzis said he was “relieved” the matter was completed.
“I’m feeling happier for myself; a lot of people have been impacted by this including staff, family, shareholders and partners of the business. An accusation of money laundering is no small thing.”
It is unclear what financial settlement Mr Karantzis received.
The Australian Securities & Investments Commission filed a civil suit in the Federal Court in December alleging Mr Karantzis engaged in misleading and deceptive conduct by failing to correctly disclose dealings he had with three customers and he also allegedly misled investors.
Mr Karantzis and iSignthis are defending the action.
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