ASIC ceases prosecution of Brisbane broker

The regulator has decided to discontinue the prosecution due to a lack of evidence on the charges laid

ASIC ceases prosecution of Brisbane broker



ASIC notes the decision of the Commonwealth Director of Public Prosecutions (CDPP) to discontinue the prosecution of Ms Jenny Mao.

Ms Mao was charged with giving documents to a lender that were materially misleading (refer: 16-232MR). The prosecution had been listed for a summary trial in April 2017.

On 20 March 2017, the CDPP sought to adjourn the summary trial order to allow a key and overseas-based prosecution witness to attend to give evidence. The Court refused to adjourn the hearing. On 10 May 2017, the CDPP formally offered no evidence on the charge and the charge was dismissed by the Southport Magistrates' Court.

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