A director of Healthzone Limited (in liquidation) and a former director have pleaded guilty to various charges, including market manipulation.

Facing Sydney’s Downing Centre Local Court on 19 May 2015, director Ge Wu pleaded guilty to two counts of conspiring to manipulate the share price of Healthzone. The conduct occurred between 1 May 2007 and 12 December 2010, and 13 December 2010 and 17 November 2011. Mr Wu also pleaded guilty to one count of breaching his duty as a director in relation to the provision of a $1 million loan made by Healthzone in 2011.

Former director Robert Dulhunty pleaded guilty to one count of conspiring to manipulate the share price of Healthzone between 1 May 2007 and 12 December 2010.

Mr Wu and Mr Dulhunty were both charged in 2014.

Mr Wu and Mr Dulhunty were committed to the Supreme Court of NSW for sentence with a date to be set for hearing on 3 July 2015.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.

Background

Healthzone listed on the ASX in November 2006 and was delisted when it was placed into administration and receivership in November 2011. Healthzone went into liquidation in March 2012.

Editor's note 1:

A sentencing hearing has been set down for 26-28 October 2015.

Editor's note 2:

On 23 October 2015 Mr Wu's sentencing was adjourned to 9 December 2015.

Editor's note 3:

At the sentencing hearing Mr Dulhunty's sentencing was adjourned to 20 November 2015.

Editor's note 4:

On 12 November 2015, the sentencing hearing for Mr Dulhunty was postponed to 30 November 2015.

Editor's note 5:

Mr Dulhunty has been sentenced in the NSW Supreme Court for market manipulation, following an ASIC investigation (refer: 15-359MR).

Editor's note 6:

At the sentencing hearing on 9 December 2015, Mr Wu's sentencing was scheduled for 18 December 2015.