ASIC Targets Former Star CEO With A$1.3m Fine, Extended Ban
Australia’s corporate regulator has taken its case against former Star Entertainment Group chief Matt Bekier back to the Federal Court, asking for a heavy penalty and a long ban from company directorships.
On Wednesday, the Australian Securities and Investments Commission (ASIC) sought an A$1.3 million fine and an eight‑year ban, arguing that Bekier had shown no remorse and lacked insight into his failings.
Counsel told Justice Michael Lee that without those qualities, the public needed protection from him holding another senior role.
The court had already ruled against Bekier in March, finding he breached his duties by keeping the Star board unaware of serious misconduct tied to Suncity, the junket operator that once drove billions of dollars in VIP gambling revenue.
Investigators revealed that between 2018 and 2019, Suncity staff were seen accepting cash in cardboard boxes and cooler bags inside Star’s premises, while others hid under blankets to avoid cameras. Bekier knew about it, but the board did not.
He and former general counsel Paula Martin also failed to disclose that Star misled National Australia Bank in 2020 over the use of China UnionPay cards, which were being used for gambling transactions despite explicit prohibitions.
The inquiry found both executives withheld this information from directors. Suncity’s owner, Alvin Chau, is now serving a prison sentence in Macau for money laundering, fraud, illegal gambling, and running a criminal organisation.
Bekier’s attorney says 18-month ban is more proportionate
Matt Bekier’s legal team pushed back against the regulator’s call for a lengthy disqualification, telling the court that a shorter ban would be fairer.
Matt Bekier’s legal team pushed back against the regulator’s call for a lengthy disqualification, telling the court that a shorter ban would be fairer. Counsel Justin Williams SC argued that an 18‑month period was proportionate, stressing that his client had not acted with intent and that Star Entertainment had not suffered measurable financial loss from the breaches.
He added that even if Bekier had handled matters differently, the fallout from the 2022 Bell Inquiry, the loss of Star’s Sydney licence, and the A$100 million fine imposed by regulators would still have occurred.
Justice Michael Lee did not appear convinced, noting that treating the absence of remorse as neutral could create “perverse incentives” for defendants who plan to appeal. ASIC has also sought a seven‑year ban and a A$1.1 million fine against Paula Martin, Star’s former general counsel, with Lee raising no objection to the proposed disqualification period.
Other executives have already settled. Greg Hawkins, once chief casino officer, accepted an 18‑month ban and paid A$180,000 in February last year, while former CFO Harry Theodore paid A$60,000 and was barred for nine months.
Star itself reached a settlement with ASIC in 2023, paying A$150 million over anti‑money laundering breaches.
The company remains under heavy regulatory pressure. Its Sydney licence was stripped in October 2022, with Nicholas Weeks appointed as independent manager.
That arrangement has been extended several times, most recently to March 2026, as regulators concluded Star had not yet regained the right to run its own operations. In Queensland, suspension of the Gold Coast licence has been deferred until September 2026.
Star reported a net loss of A$472 million for the 2025 financial year, showing the scale of its troubles.
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Source: Next.io
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