The Australian Securities & Investments Commission has charged Behzad Eghrari of Vermont South, Victoria, with three offences of creating a false or misleading appearance of active trading following an ASIC investigation. ASIC alleges that between 3 August 2022 and 23 January 2024, Eghrari executed 679 trades between share trading accounts he controlled that involved no change in beneficial ownership, creating a false or misleading appearance of market activity in financial products relating to Investigator Resources Limited, Silver Mines Ltd and Lumos Diagnostics Holdings Ltd. The charges are laid under sections 1041B(1)(a) and 1311 of the Corporations Act, with the Commonwealth Director of Public Prosecutions prosecuting the matter following ASIC’s referral; the maximum penalty is 15 years’ imprisonment. The matter is next listed for committal mention in the Melbourne Magistrates’ Court on 6 June 2025.
Australian Securities & Investments Commission 2025-03-14
Australian Securities & Investments Commission charges Behzad Eghrari over alleged wash trading in Investigator Resources, Silver Mines and Lumos Diagnostics shares
ASIC has charged Behzad Eghrari with three offences for creating a false appearance of active trading. Eghrari executed 679 trades between accounts he controlled, affecting financial products of three companies. The charges carry a maximum penalty of 15 years. A committal mention is scheduled for 6 June 2025.