This article is from the Australian Property Journal archive
THE corporate watchdog has stopped former Macquarie Bank head of global property securities fund Oswyn De Silva from attempting to leave the country.
On March 01, the Australian Securities and Investments Commission claimed De Silva tried to leave Australia from Perth but was stopped by the Australian Federal Police to an undisclosed destination.
This is despite ASIC obtaining ex-parte orders from the Supreme Court restraining him from leaving or attempting to leave Australia on February 26.
He later, March 08, pleaded guilty to breaking the Court order barring him from travelling, and his sentence hearing has been listed for March 15.
De Silva, 36, a resident of the United Kingdom, was also required to handover all passports.
ASIC applied for these orders pursuant to its investigation of trading that De Silva’s is alleged to have engaged in between 2006 and 2007.
But ASIC could not comment on the details of the investigation. The restraint orders will continue until March 15 when the matter returns to Court.
De Silva was the fund manager and joint head of Macquarie Bank’s Global Properties Securities Fund which at April 2007 boasted over £2.7 billion (approx $A5 billion) of funds under management.
At the time hast just 34 years of age and had been working as fund manager for over 10 years. De Silva was a high flyer and a rising star, jet setting across the globe giving talks and presentations on global property securities.
Australian Property Journal
