Mineral Resources’ Chris Ellison reportedly summoned by ASIC over tax dealings

Mineral Resources’ embattled leader Chris Ellison will soon be interviewed by Australia’s corporate cop, according to a media report.

Mr Ellison and MinRes chief financial officer Mark Wilson have received Section 19 notices from the Australian Securities and Investments Commission, the Australian Financial Review says, which will require the duo to assist investigators in their probe.

ASIC in November launched a formal investigation into allegations surrounding Mr Ellison’s tax evasion scheme and other dodgy financial dealings.

ASIC deputy chair Sarah Court told a Senate committee at the time her organisation already “has some engagement” with the Australian Taxation Office and “the investigation will follow the normal course”.

The probe was triggered by reports that Mr Ellison had evaded tax on co-owned offshore companies and allegedly profited on deals at the expense of MinRes shareholders.

Less than a fortnight later it came to light he had also misused company resources for his own benefit, including getting MinRes employees to work on his luxury yacht docked in Fremantle.

The MinRes board in November stunned investors when it released damning findings of a long-running, secret internal investigation that found “at times Mr Ellison has not acted with integrity” and he “failed to be as forthcoming with the board as he should have been”.

Mr Ellison has agreed to step down within 18 months and pay a multimillion-dollar fine and donate $1 million annual over five years to selected charities.