TZL 0.00% 4.8¢ tz limited

Ex TZ Director Fraud Case

  1. 312 Posts.
    lightbulb Created with Sketch. 40

    Jury discharged in $9m fraud trial of former TZ director Andrew Sigalla
    Michaela Whitbourn, Emma Partridge

    A jury has been discharged in the trial of a former technology company director who is accused of defrauding his company of $9 million and then transferring substantial sums to high profile bookmaker Tom Waterhouse.
    Andrew Sigalla, a former director of Sydney-based listed technology company TZ Ltd, was due to stand trial in the NSW Supreme Court on Monday on 24 charges of fraud.
    Andrew Sigalla leaves the Supreme Court complex on Monday.
    Andrew Sigalla leaves the Supreme Court complex on Monday. Photo: Michaela Whitbourn
    "Absolutely not guilty," he said loudly in the dock after the charges against him were read out.
    But just before the trial was about to begin, the jury was discharged.
    Earlier, Crown prosecutor Patricia McDonald, SC, told the jury that Mr Sigalla was accused of transferring the funds from TZ Ltd to his own companies and his personal bank account between December 2008 and March 2009.
    She said there would be evidence in the trial that "a lot of funds" were transferred to Mr Waterhouse's betting house, as well as a mortgage company that had lent Mr Sigalla money to buy a property at Ingleside.

    Mr Waterhouse was expected to be among the witnesses.
    The court heard a "conservative estimate" for the length of the trial was eight weeks. The jury of 12 men and women was empanelled shortly before midday.
    Supreme Court Justice Christine Adamson noted that Mr Sigalla was representing himself and said it was "something he has a perfect right to do".
    She warned the jury members they should not use the fact he did not have legal representation to influence them "in any way" for or against him.
    She said the fact Mr Sigalla was representing himself made it harder to predict how long the trial might take.
    The trial is expected to begin on Tuesday with a new jury.
watchlist Created with Sketch. Add TZL (ASX) to my watchlist
(20min delay)
Mkt cap ! $4.402M
Open High Low Value Volume
5.0¢ 5.0¢ 4.7¢ $16.55K 344.4K

Buyers (Bids)

No. Vol. Price($)
1 12657 4.8¢

Sellers (Offers)

Price($) Vol. No.
5.3¢ 2729 1
View Market Depth
Last trade - 14.04pm 06/08/2020 (20 minute delay) ?
TZL (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.