great buy Sandune!
‘Court filings released to The Age and Sydney Morning Herald on Tuesday show ASIC is seeking an order to appoint Deloitte as liquidators of Merlin Diamonds, which had a market capitalisation of just $20 million when its stock was banned from trading last October.
ASIC has for months been probing how Merlin Diamonds has loaned $13 million of investor money to a private company, AXIS Consultants, which has long been associated with Mr Gutnick.
"The loans have been used to fund private companies associated with Joseph Gutnick and provide no discernible benefit to Merlin Diamonds," ASIC said in a statement on Tuesday evening.’
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