Securities Fraud Australia

In a bid to eliminate the kind of corporate scandals that have discouraged some Americans and other potential foreign investors from doing business in Australia, the government is beginning to put teeth into its young securities watchdog agency. The Australian Securities Commission was created in January to root out illegal and improper financial conduct and improve a business image sullied in the 1980s by some of the country's high-flying corporate power brokers.

Alan Bond Sentenced to Prison: The bankrupt Australian tycoon was sentenced to 2 1/2 years in prison for dishonesty, but his lawyers said he plans to clear his name. Bond, 54, was jailed in Perth, Australia, by Judge Peter Blaxell one day after a jury found him guilty under Western Australian securities law of dishonesty in relation to an attempted rescue of failed Perth finance company Rothwells Ltd. in 1987.

Alan Bond Sentenced to Prison: The bankrupt Australian tycoon was sentenced to 2 1/2 years in prison for dishonesty, but his lawyers said he plans to clear his name. Bond, 54, was jailed in Perth, Australia, by Judge Peter Blaxell one day after a jury found him guilty under Western Australian securities law of dishonesty in relation to an attempted rescue of failed Perth finance company Rothwells Ltd. in 1987.

In a bid to eliminate the kind of corporate scandals that have discouraged some Americans and other potential foreign investors from doing business in Australia, the government is beginning to put teeth into its young securities watchdog agency. The Australian Securities Commission was created in January to root out illegal and improper financial conduct and improve a business image sullied in the 1980s by some of the country's high-flying corporate power brokers.