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Helou fined $200,000 for role in misleading claims

Dec 07, 2018 - Australian Financial Review

The Federal Court has slapped former Murray Goulburn Co-operative boss Gary Helou with a $200,000 fine for being knowingly involved in its misleading claims about the farmgate milk price it expected to pay dairy farmers during the 2015-16 milk season.

After nearly 70 years as a co-operative, dairy farmers in April voted to sell their prized processing business Murray Goulburn to Canada's Saputo when it failed to recover from a disastrous retrospective cut to milk prices two years ago.

Murray Goulburn continues to exist as a legal entity but only to deal with the the Australian Competition and Consumer Commission (ACCC) and corporate regulator proceedings and current and future class action...