The Australian Securities & Investments Commission (ASIC) announced that Glenn Alexander Rosewall, former Executive Chairman of BBY Limited, has been charged with aiding, abetting, counselling or procuring BBY’s alleged dishonest conduct in relation to a financial service involving the use of client money. ASIC alleges that between about 1 March 2015 and about 17 May 2015, Mr Rosewall was involved in BBY’s use of AUD 1.95 million of client money to facilitate payment of an unrelated corporate invoice. He appeared in the Downing Centre Local Court charged with two offences contrary to sections 1041G and 1311 of the Corporations Act 2001 (Cth) and section 11.2(1) of the Criminal Code (Cth); the matter is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral from ASIC. The case was adjourned for further mention on 9 September 2025.
Australian Securities & Investments Commission 2025-07-15
Australian Securities & Investments Commission charges former BBY executive chairman over alleged dishonest use of AUD 1.95 million in client money
ASIC has charged Glenn Alexander Rosewall, former Executive Chairman of BBY Limited, with aiding and abetting the company's alleged dishonest conduct involving client money. Rosewall allegedly used AUD 1.95 million of client funds to pay an unrelated corporate invoice between March and May 2015. He faces charges under the Corporations Act 2001 and the Criminal Code, prosecuted by the Commonwealth Director of Public Prosecutions.