Mark Caruso sacked amid Mineral Commodities probe into ‘related party matter’

Mineral Commodities has sacked promoter Mark Caruso from his chief executive role, five months month after he stepped down as chairman to fight charges unrelated to his corporate life.

The Welshpool-based South African miner said yesterday the ousting was the result of a breakdown in a relationship between the board and the chief executive following the “commencement of an inquiry into a related party matter”.

“Those inquiries are ongoing and the company is unable to provide further details at this time,” Mineral Commodities told the stock exchange.

Mr Caruso stepped down from the board and his executive chairman role in October to fight home invasion and assault charges laid by Mandurah Police over him assisting a friend with a property seizure in May last year.

State prosecutors dropped an indictable home invasion charge in February but police are pushing ahead with two common assault charges, which are due before the Mandurah Magistrates Court again in June.

Mr Caruso will also appear in the Perth Magistrates Court on April 1 on a charge of driving with a blood alcohol content of excess 0.08.