SIDNEY, WILLEMSTAD - According to the Financial Review in an article, the Australian corporate regulator has laid criminal charges against Jan Cameron, a former director of infant formula maker Bellamy’s Australia, for allegedly failing to disclose her links to a major investor in the company.
The Tasmanian entrepreneur, who was a major shareholder in Bellamy's until the group was controversially sold to China Mengnui Dairy Company last year, could face financial penalties and prison time for two breaches of the Corporations Act.
Ms Cameron, 67, is due to appear before the Hobart Magistrates’ Court following an investigation by the Australian Securities and Investments Commission.
ASIC alleges that on or about August 1, 2014, when Bellamy’s became a listed company, Ms Cameron began, by herself and with her associate The Black Prince Foundation, to have a substantial holding of 14 million Bellamy’s shares.
The Black Prince Foundation is based in Curaçao. According to the Financial Review in their article Curaçao is an island that is known as a tax haven for the wealthy. “Last year it narrowly escaped placement on the "black list" of tax havens published by the European Union but was on the EU "grey list" of nation's that need to improve their tax policies,” the article states.
Photo: Jan Cameron has been charged with failing to disclose her links to a major in investor in Bellamy's Australia.