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A court has restrained a Melbourne solicitor from leaving the country pending an investigation into a missing $26.6 million.
The Federal Court ordered Christopher William Legal’s principal lawyer Mark Madafferi to not leave or attempt to leave Australia until mid-September this year or until further orders are made.
It’s believed the two were involved in the alleged “suspected misuse” of $30 million belonging to Dubber or one of its subsidiaries.
The Australian Securities and Investments Commission (ASIC) began its investigation after Dubber’s board warned investors the $30 million was “not currently available to the company”.
The board reportedly suspended McGovern when an audit review revealed inconsistencies in funds held by a third-party trustee.
It was alleged Christopher William Legal acted for this trustee.
While approximately $3.4 million has been recovered, ASIC said the remaining funds remain unaccounted for.
“As the hearing was held in their absence, McGovern and Madafferi have not yet had the opportunity to respond to ASIC’s application,” the watchdog said in a statement.
McGovern is a British national with permanent residence in Australia. Madafferi is an Australian citizen.
The matter will return to court later this month.
Naomi Neilson is a senior journalist with a focus on court reporting for Lawyers Weekly.
You can email Naomi at:
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