Business
ASX exec sentenced to jail for WhatsApp market manipulation
A director involved in the reverse listing of Weebit Nano Ltd (ASX: WBT) has been sentenced to 12 months jail for illegal market manipulation.
Ananda Kathiravelu of Perth had in August pleaded guilty to conspiracy to commit an offence of market manipulation.
On Monday, the Supreme Court of Western Australia sentenced him to 12 months imprisonment. He was released on $10,000 recognisance for 7 months of good behaviour.
Kathiravelu was a director of Radar Iron Limited, a now unlisted iron ore mining company that in 2015 was losing money and had near-zero revenues.
In July 2015, he was introduced to Israeli businessman Ariel Malik in connection to a potential reverse listing of technology firm Weebit Nano.
Later that year, Radar…
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