ob体育 has banned former Radar Iron Limited and Armada Capital Pty Ltd director Ananda Kathiravelu, of Perth, WA, from providing financial services for three years, following his conviction for market manipulation offences.
Mr Kathiravelu was convicted in the Supreme Court of Western Australia in February 2021 for conspiring to manipulate the market for Radar Iron shares traded on the ASX between 12 May 2016 and 17 May 2016. He was sentenced to twelve months鈥� imprisonment and released on recognisance in the sum of $10,000 (21-020MR).
In banning Mr Kathiravelu, ob体育 found that Mr Kathiravelu had not complied with financial services law and was involved in the contravention of a financial services law by another person.
The ban prevents Mr Kathiravelu from providing any financial services, performing any function involved in the carrying on of a financial services business and controlling an entity that carries on a financial services business.
Mr Kathiravelu has the right to appeal to the Administrative Appeals Tribunal for a review of ob体育鈥檚 decision.
Background
Mr Kathiravelu was an Authorised Representative and responsible person under Armada Capital鈥檚 Australian Financial Services licence.