The Crows Truth
3 Jun 2008, 09:08
ADELAIDE stars, including 2003 Brownlow medallist Mark Ricciuto, have been quizzed by investigators from the Australian Securities and Investments Commission in relation to their shareholdings in the controversial fuel technology company Firepower.
Although there is no suggestion the investors have done anything wrong, several high-profile players stand to lose many hundreds of thousands of dollars in the Firepower investments.
ASIC investigators have been focusing on finance brokers who may have sold Firepower shares without a prospectus and possibly breached other corporation laws, and have sought detailed information from the high-profile players, as well as other shareholders, as part of their inquiries.
Ricciuto, his close friend Scott Goodwin and Crows teammates Rhett Biglands, Jason Torney, Brett Burton and Robert Shirley, have been asked about their shareholdings and the broker who introduced them to Firepower. Players bought shares at prices ranging from five cents to $1.33.
Sydney's Ryan Fitzgerald, who left the Swans for Adelaide and is now a radio host, and his close friend Anthony Lehmann, also known as the comedian Lehmo, have shares in Firepower.
Former Port Adelaide player Darryl Wakelin is also an investor in the company, as is Crows coach Neil Craig and his wife, Christine.
One of the Crows contacted yesterday admitted to taking a huge financial hit as the promises by Firepower's owner, Tim Johnston, to list on the Alternative London Investment Market have stalled.
"I would say I stand to lose a massive whack," he said.
Ricciuto's business partner, Wayne Carey, also bought a significant swag of shares.
Although there is no suggestion the investors have done anything wrong, several high-profile players stand to lose many hundreds of thousands of dollars in the Firepower investments.
ASIC investigators have been focusing on finance brokers who may have sold Firepower shares without a prospectus and possibly breached other corporation laws, and have sought detailed information from the high-profile players, as well as other shareholders, as part of their inquiries.
Ricciuto, his close friend Scott Goodwin and Crows teammates Rhett Biglands, Jason Torney, Brett Burton and Robert Shirley, have been asked about their shareholdings and the broker who introduced them to Firepower. Players bought shares at prices ranging from five cents to $1.33.
Sydney's Ryan Fitzgerald, who left the Swans for Adelaide and is now a radio host, and his close friend Anthony Lehmann, also known as the comedian Lehmo, have shares in Firepower.
Former Port Adelaide player Darryl Wakelin is also an investor in the company, as is Crows coach Neil Craig and his wife, Christine.
One of the Crows contacted yesterday admitted to taking a huge financial hit as the promises by Firepower's owner, Tim Johnston, to list on the Alternative London Investment Market have stalled.
"I would say I stand to lose a massive whack," he said.
Ricciuto's business partner, Wayne Carey, also bought a significant swag of shares.