The Australian Securities and Investments Commission (ASIC) has returned to the Federal Court of Australia to demand a heavy A$1.3 million civil penalty and an 8-year corporate directorship disqualification against Matt Bekier, the former Chief Executive Officer of Star Entertainment Group.
The corporate regulator argued aggressively before Justice Michael Lee that a lengthy ban is necessary to protect the public, asserting that Matt Bekier has shown a complete absence of remorse and lacks critical insight into his severe compliance failings.
Misconduct and Misled Banking Channels
The high-stakes court proceedings follow a March judgment finding that Bekier breached his statutory director duties by intentionally keeping the Star board of directors completely unaware of systemic, high-risk misconduct associated with Suncity.
Investigative telemetry revealed that between 2018 and 2019, staff from the notorious junket operator regularly accepted unmonitored cash deposits inside Star’s VIP premises using cardboard boxes and cooler bags, while other figures hid under blankets to evade security cameras.
Furthermore, the court verified that Bekier and former General Counsel Paula Martin intentionally withheld information from directors revealing that Star had severely misled National Australia Bank in 2020 regarding the widespread use of China UnionPay cards to execute prohibited gambling transactions. Suncity owner Alvin Chau is currently serving a prison sentence in Macau following criminal convictions for fraud, money laundering, and illegal gambling operations.
Defense Argues for an 18-Month Term
Justin Williams SC, Defense Attorney for Matt Bekier, argued that a shorter, 18-month disqualification window is far more proportionate to the actual offenses, claiming that his client lacked intent to cause harm and that the operator did not incur measurable financial losses from the specific board communication failures:
“An 18‑month period is proportionate, stressing that my client had not acted with intent and that Star Entertainment had not suffered measurable financial loss from the breaches. Even if Bekier had handled matters differently, the fallout from the 2022 Bell Inquiry, the loss of Star’s Sydney licence, and the A$100 million fine imposed by regulators would still have occurred.”
Justice Michael Lee raised immediate concerns regarding the defense’s approach, noting that treating a defendant’s lack of remorse as a neutral factor would generate “perverse incentives” for executives planning subsequent appeals. ASIC is seeking a parallel 7-year directorship ban and an A$1.1 million fine against Paula Martin, while other executives have already settled their cases.
Former Casino Officer Greg Hawkins accepted an 18-month ban and paid A$180,000, while former CFO Harry Theodore paid A$60,000 alongside a 9-month disqualification. Star Entertainment Group itself settled its liability with ASIC in 2023 by paying an A$150 million penalty.
The operator remains under intensive regulatory management, with independent manager Nicholas Weeks’ tenure extended until March 2026, while the company reported a massive A$472 million net loss for the 2025 financial year.
