The corporate watchdog has charged former Bellamy's director, Kathmandu founder Jan Cameron, with masking what it alleges was her true stake in the Austarlian infant formula business via a mysterious offshore associate. The Australian Securities and Investments Commission said on Friday it was charging the Australian businesswoman, 67, with failing to disclose 14 million Bellamy's shares she owned via Curacao-domiciled firm The Black Prince Foundation, when the Launceston-based formula company went public in August 2014. ASIC said Cameron's 14.74 per cent stake was nearly triple the 5.0 per cent threshold that dictates - in the Corporations Act - when a person must lodge a substantial holder notice. The watchdog also alleges Cameron - following an acrimonious boardroom battle in early 2017 - lodged with Bellamy's an initial substantial holder notice that was also misleading, on the basis that it failed to properly disclose her true and complete relationship with Black Prince, and the basis upon which she held her interest in the company. Full story: Kathmandu founder faces maximum penalty of five years in jail for Australian charges. https://www.stuff.co.nz/business/world/119529314/kathmandu-founder-jan-cameron-charged-over-stake-in-australian-formula-maker-bellamys
