The activist at the heart of the Whitehaven Coal hoax has explained the reasons behind putting out a fake ANZ Bank media release, which resulted in big losses on the share market.
Jonathan Moylan, from the anti-coal mining group Frontline Action Coal, has admitted to sending a press release to media outlets claiming the ANZ Bank had pulled its $1.2 billion loan to the miner.
ASIC is investigating if any laws were broken after the hoax temporarily wiped $314 million from the value of the company.
Frontline Action Coal is protesting against Whitehaven Coal's flagship Maules Creek project in NSW.
"ANZ Bank is investing $1.4 billion of their customers' money in illegal coal mining, which is pushing farmers off their land, which is destroying forests, deplete the water table and increase risks for our health and our climate, and we made an announcement that ANZ should have made," he told SBS.
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"The Earth resources are invaluable. They can never be brought back, and they are much more important than money".
Mr Moylan says Frontline Action Coal has tried a lot of other avenues in the past to get their message across.
"We've done a lot of things: we have written letters, submissions, we have had protests, we have done a huge amount of research. The NSW government has made the decision in a way that precludes people from taking it to court, so we are blocked out from the court, which is incredible".
In Australia, anyone convicted of disseminating false information to the share market that could impact on market securities faces a maximum of almost $500,000 or a potential 10-year jail sentence.
"I am expecting to hear from ASIC. I went into this with my eyes wide-open. I realise that there are consequences, and I also realise that any change throughout history has never been made without taking risks. People are going to have to get out there, and do actions that are peaceful, that may be civilly disobedient, but that can create great change for everybody's benefit.
"We really wanted to show people what the world could be like, were banks invested their customers' money ethically, and in a way which their customers would approve".
Whitehaven chairman Mark Vaile said the company would complain to the Press Council about media reporting of the hoax press release and see if it could take its own legal action against Mr Moylan.
Watch the interview on YouTube:
