A former Macquarie Bank portfolio manager has been stopped from leaving Australia, amid an investigation into his trading history.
The Australian Securities and Investments Commission obtained a consent order from the Supreme Court of NSW temporarily restricting Oswyn De Silva from leaving Australia while he awaits the conclusion of an investigation.
ASIC is investigating the British resident for trades he allegedly conducted between 2006 and 2007, but did not specify the nature of the alleged trades.
Mr De Silva had tried to leave Australia on March 1 but was prevented by the Australian Federal Police. He has been ordered to surrender his passports to the Court Registry.
Mr De Silva pleaded guilty to being in contempt of the court’s restraint orders, issued on February 26. His sentence hearing for the violation of the court orders is scheduled for March 15, with the current restraint order preventing international travel in effect until that date.
Mr De Silva managed a global property securities fund for Macquarie, which in April 2007 had over 2.7 billion pounds in funds under management, according to the bank’s website.
czappone@fairfax.com.au
BusinessDay
