- Magnis Energy (MNS) has refuted claims it is “hooked up” with an alleged drug boss, calling the assertions false
- The Australian reported yesterday that former senior employees claimed Magnis had engaged alleged drug-smuggler Hakan Arif as an agent for the company in Turkey
- Magnis says it has never had any engagement with Mr Arif and has never made any payments to him
- Magnis says it has retained Queen’s Counsel and senior lawyers to represent it in proceedings arising from the “assertions and imputations” in recent “defamatory articles”
- The article also claims to have seen documents showing lawyers acting for former executive Stefan Spruck wrote to the company over the potential involvement of Mr Arif
Magnis Energy (MNS) has refuted claims it is “hooked up” with an alleged drug boss, calling the assertions false.
The Australian reported yesterday that former senior employees claimed Magnis had engaged alleged drug-smuggler Hakan Arif as an agent for the company in Turkey.
Magnis said it has never had any engagement with Mr Arif and has never made any payments to him.
In an announcement, the company said it has retained Queen’s Counsel and senior lawyers to represent it in proceedings arising from the “assertions and imputations” from recent “defamatory articles”.
The article in The Australian said former board member Warwick Smith left the company after just one year, partly due to concerns over Mr Arif’s involvement in the company.
The article also claims to have seen documents showing lawyers acting for former executive Stefan Spruck wrote to the company over the potential involvement of Mr Arif.
Magnis director Peter Tsegas admitted to meeting Mr Arif “only once”, claiming he does not “know who he is”.
Mr Arif was named in Dubai court records as the leader of a drug-smuggling network accused of attempting to export hundreds of millions of dollars in cocaine, ecstasy, and methamphetamine to Australia, and the Australian Criminal Intelligence Commission considers him a priority target, according to the article.
The Market Herald is not suggesting Magnis, or any employee of Magnis, are or were involved in criminal activity.
It comes after the company was placed in a trading halt earlier in the month over media reporting that its chairman Frank Pullas was under investigation by the Australian Securities and Investments Commission (ASIC). The article from The Australian claimed the corporate regulator had not ruled out expanding the probe to include the company.
Magnis, in an announcement to the market, said the company is not under investigation by ASIC. The company did not confirm or deny if Mr Poullas is under investigation.