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Australian Gambling Scheme Operator Stands Trial

24 July 2001

AUSTRALIA—July 24, 2001 –As reported by the (Australia) Age: "A gambling scheme operator has been committed to stand trial in the County Court after allegedly losing almost $500,000 of investors' money.

"Kevin Anthony Gaw, 48, of East Kew, will face four charges of operating an unregistered managed investment, and 25 charges of inducing others to invest in securities by making false and misleading statements.

"He will also face 31 charges of inducing investments by making misleading, false and deceptive statements.

"The charges result from an investigation by the Australian Securities and Investments Commission, which alleges that false assurances were given to investors that their money was fully guaranteed…"

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