THE corporate regulator has accused the Sydney businessman Andrew Sigalla of breaching court orders that froze his assets by using his credit card to pay for ”what are euphemistically called female models or escorts” and for betting on the TAB.
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The seriousness of ASIC’s investigation was disclosed after it laid 43 charges of contempt of court and Mr Sigalla challenged the validity of notices the regulator sent to banks, credit-card issuers, four Sydney escort services and the gaming company Tabcorp.
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He had some success in relation to ASIC’s allegation of contempt via the transfer of $52,500 from a St George Bank account in Sydney to the US, where his family lives.
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Justice White also gave mixed rulings on the admissibility of evidence relating to 25 charges of contempt over payments to escort agencies, ranging from $660 to $3850, and six charges over bets placed with the TAB ranging from $250 to $1000.
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