The Australian Securities & Investments Commission said the Federal Court has sentenced former Metigy Pty Ltd CEO David Fairfull to nine years' imprisonment following an ASIC investigation into misleading conduct and misuse of company funds. After pleading guilty in November 2025, Fairfull was convicted on one count of making false and misleading statements to investors and one count of dishonestly using his position as a director for personal gain. The court imposed seven years and six months for the investor statements offence and three years for the director misconduct offence, with 18 months to be served concurrently, resulting in a nine-year sentence and a non-parole period of five years and four months. The offending related to multiple capital-raising activities between 2018 and 2021 in which investors contributed just over AUD 39 million to Metigy based on repeated false representations about the company's financial performance. The conduct included three capital raisings between October 2018 and October 2020 that raised about AUD 23.4 million, a secondary share sale in July 2021 that raised about AUD 15.7 million, and a proposed AUD 50 million capital raising. ASIC also found that in November 2021 Fairfull caused Metigy to lend AUD 7.7 million to fund the purchase of residential real estate for his personal benefit. The matter was prosecuted by the Office of the Director of Public Prosecutions following ASIC's investigation.

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