Market manipulation charges for Perth corporate advisor Ananda Kathiravelu

asic charges

Mr. Ananda Kathiravelu, of Perth, Western Australia, is a a corporate adviser to a series of Australian companies, including Armada Capital Pty Ltd. Kathiravelu has been in the financial services business for over 20 years and has served as a director to a number of companies.

Mr. Kathiravelu has been charged with conspiracy to manipulate markets. He appeared before the Stirling Gardens Magistrates Court in Perth on September 18th, 2019. He was committed to stand trial charges in the Western Australian Supreme Court for trials to commit market manipulation.

The Australian Securities and Investments Commission (ASIC) has previously investigated Mr. Kathiravelu’s conduct in the trading of RAD shares (Radar Iron Limited) on the Australian Securities Exchange back in May 2016. One day prior to the investigation (May 16th), the RAD shares were suspended from the Exchange.

What ASIC alleges is that Ananda Kathiravelu actually conspired with another party in the ASX transactions and the team maintained or created a manipulated (artificial) price for RAD.

The Perth corporate adviser pleaded not guilty when he faced the Court on Wednesday. He is scheduled to appear in front of the Western Australian Supreme in late October. If found guilty. Mr. Kathiravelu faces a maximum prison time of 10 years and/or a $810,000 fine.

More about ASIC can be found in the following links:

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