Monday 30 April 2007 LAWFUEL – The Law Newswire – Mr Gabrial Neil Pennicott, formerly of Melbourne, Victoria, has been arrested in British Colombia, Canada. Mr Pennicott was arrested on 26 April 2007 as a result of the Australian Government making a request to the Canadian authorities to issue a provisional arrest warrant. The provisional arrest warrant was issued for 47 corporate-related charges laid by the Australian Securities and Investments Commission.
ASIC’s investigation and the subsequent charges against Mr Pennicott relate to the circumstances surrounding the promotion of investment opportunities to investors, the transfer of funds raised by such investments between companies controlled by Mr Pennicott and the repayment of the investments. ASIC’s investigation is continuing. For further information contact: Allen Turton Deputy Executive Director, Enforcement Telephone: 02 9911 2338 Mobile: 0411 549 236 Michael van Maanen ASIC Media Unit Telephone: 02 9911 2658 Mobile: 0412 500 351