Billionaire mining magnate Gina Rinehart is facing fines of more than $178,000 for repeatedly failing to lodge annual financial reports on time.
Between 2008-2012 Rinehart’s companies Hancock Prospecting, Hancock Minerals and Hope Downs Iron Ore, allegedly breached corporations laws and now face 13 offences – which carry a maximum penalty of $13,750 each, or a total of $178,750.
The Australian Securities & Investments Commission handed out the charges last night and said that the commonwealth Director of Public Prosecutions was handling the case.
The matter has been adjourned to Perth Magistrates Court on May 14.
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