MOYLAN ESCAPES PRISON SENTENCE FOR STUNT

Jonathan Moylan, the Newcastle environmental activist responsible for temporarily wiping hundreds of millions of dollars from a mining company’s value, has been handed a good behaviour bond for the stunt.

26-year-old Moylan issued a bogus press release in January last year that claimed the ANZ Bank had withdrawn a $1.2-billion loan to Whitehaven Coal’s Maules Creek mine near Gunnedah. The press release said the bank was pulling out because of an unsteady coal market and for corporate responsibility. Some media outlets reported the contents of the bogus release which led to $300-million being temporarily wiped from Whitehaven’s share price.

In the New South Wales Supreme Court, Justice David Davies said Moylan was “not a criminal in the classic sense”, but added his actions did result in a number of investors losing money, or their investment completely.

“It is clear the offender has been prepared to break the law on a number of occasions to further the causes which he believes in.” he said.

Moylan was sentenced to one year, and eight months jail, but was released on a two year good behaviour bond.