Corporate finance director charged with conspiring to manipulate market (ASIC, 2019)

Judgment entered

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In September 2019 ASIC reported that Perth corporate finance director Ananda Kathiravelu was committed to stand trial for conspiring to manipulate the market in Radar Iron shares in May 2016. He pleaded guilty in August 2020 and, in a release of 10 February 2021, ASIC reported a 12-month prison sentence with immediate release on a recognisance. ASIC banned him from providing financial services for three years in January 2022.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

the Australian Securities and Investments Commission announced this matter on September 18, 2019 as release 19-255MR. The respondent named is Ananda Kathiravelu (1 individual, 0 entities).

ASIC alleges that between 12 and 17 May 2016 he conspired with another to carry out transactions that would create or maintain an artificial price for Radar shares; the offence carries up to ten years. This library tags the matter as price manipulation.

The conduct is recorded against equities.

The release references a parallel criminal proceeding. Where a criminal case exists, the civil and criminal outcomes are recorded separately, because they resolve on different standards of proof.

Outcome. ASIC's August 2020 release says Kathiravelu pleaded guilty on 27 August 2020 in the Supreme Court of Western Australia to conspiring to take part in transactions creating an artificial price for Radar shares. Its release of 10 February 2021 says he was sentenced to 12 months' imprisonment, released immediately on a $10,000 recognisance to be of good behaviour for seven months; the court found the offending serious and an attempt to make a capital raising more attractive. He is automatically disqualified from managing corporations until 8 February 2026. A January 2022 ASIC release reports a three-year ban on providing financial services, which he could challenge in the Administrative Appeals Tribunal. The date used is the date of the February 2021 release because the exact sentencing date was not stated.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Price manipulation — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2019-09-18 ASIC media release
2. 2020-08-27 Kathiravelu pleads guilty in the Supreme Court of Western Australia
3. 2021-02-10 ASIC reports sentence of 12 months' imprisonment, released on recognisance
4. 2022-01-25 ASIC bans Kathiravelu from providing financial services for three years

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• ASIC media release
• ASIC 20-199MR (guilty plea)
• ASIC 21-020MR (sentence)
• ASIC 22-006MR (three-year ban)

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Same matter

The library links these 3 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.