Post: Federal Court orders $60,000 in penalties for contempt of court

The Federal Court has ordered Mr Eustace Senese (Eustace Senese), his son Mr Cameron Senese (Cameron Senese) and associated company, Transcomm Global Pty Ltd (Transcomm) to pay penalties totalling $60,000 following findings of contempt of court on an application brought by ASIC.

On 11 October 2018, the Court considered the penalties proposed in an agreed statement of facts between ASIC and the parties and ordered the following:

Eustace Senese had admitted to 23 charges and was ordered to pay a penalty of $40,000 and to pay $17,500 towards ASIC’s costs;
Cameron Senese had admitted to 455 charges and was ordered to pay two penalties of $5,000 each and to pay $10,000 towards ASIC’s costs and
Transcomm had admitted to five charges and was ordered to pay a penalty of $10,000.

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