ASIC Drops Charges on Ellison | Sydney News

ASIC has dropped all enforcement actions against Mineral Resources CEO Chris Ellison over alleged tax evasion, after finding no further regulatory action was needed — despite his past failure to disclose a financial stake in an offshore BVI company. Ellison apologized in April 2025, stepped down as MD (no replacement named), and faced an $8.8M penalty from the board — plus scrapped nearly $10M in bonuses. A separate investor class action lawsuit remains active in Victoria’s Supreme Court. Ellison admitted to misjudging his personal tax reporting and acknowledged operating overseas entities without disclosure, but confirmed all taxes, penalties, and interest have since been paid in full.

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