Former Director of Baby Formula Maker Bellamy’s Faces Lengthy Hearing

By AAP
August 26, 2020 Updated: August 26, 2020

Millionaire businesswoman Jan Cameron is likely to face a lengthy court hearing next year over criminal charges laid against her by the corporate regulator.

The former director of baby formula maker Bellamy’s is accused of failing to lawfully disclose 14 million shares she owned in the company through herself and an entity titled The Black Prince Foundation.

Hobart Magistrates Court heard on Aug. 25 at least five witnesses, including three from Victoria, would be called to give evidence at a hearing that could last up to six weeks.

Magistrate Glenn Hay said it would likely be held sometime in April or June.

Cameron, who founded hiking retail giant Kathmandu, listened to proceedings via audio link.

Her lawyer James O’Shannessey complained about delays in the case, including a lack of clarity provided from the prosecution about witness lists.

“Ms Cameron deserves the opportunity to resolve this,” he said.

Hay ordered for the full witness list to be disclosed within 14 days and adjourned the matter until October 12.

Cameron has previously pleaded not guilty to one charge of making a false or misleading statement and another of failing to give information about substantial holdings.

She faces a penalty of up to five years’ jail.

The Australian Securities and Investments Commission alleges Cameron owned shares in Bellamy’s via Curacao-domiciled firm The Black Prince Foundation when Bellamy’s went public in August 2014.

Her alleged holding represented a 14.74 percent stake in the company, almost triple the five percent Corporations Act threshold that dictates when a person must lodge a substantial holder notice.

She is also accused of failing to properly disclose her true and complete relationship with the foundation, and the basis upon which she held her interest in the Bellamy’s shares.

Ethan James in Hobart