Two former executives of The Star Entertainment Group Ltd (Star) have been handed penalties for breaching the Corporations Act.Today, Justice Michael Lee found three contraventions in respect to Matthias Bekier and three contraventions in respect to Paula Martin.Justice Lee made a disqualification order of six years in relation to Mr Bekier, and seven years in relation to Ms Martin.In relation to Mr Bekier, the court imposed a fine of $700,000, and in respect of Ms Martin, $400,000.Earlier this year the Federal Court found that the two former senior executives of The Star Entertainment Group Ltd (Star) breached their duties in relation to their handling of the risks associated with money laundering and criminal activity at one of Australia's major casinos.The court found that Star's former Chief Executive Officer and Managing Director, Mr Bekier, and former Chief Legal & Risk Officer, Ms Martin, contravened the law by breaching their duties owed to Star under section 180 of the Corporations Act 2001.The corporate watchdog, ASIC, brought the case against Star.In a statement after the judgment was handed down in March, ASIC's chair Joe Longo said ASIC had pursued the case because it raised fundamental questions about "trust, governance and accountability at one of Australia's largest casino operators."Much of the case centred around Suncity.Suncity was Star's largest junket, with Star's turnover from Suncity being approximately $2.1 billion, $4 billion and $5.9 billion for the 2017, 2018 and 2019 financial years respectively.ASIC's case alleged, amongst other things, that Mr Bekier and Ms Martin did not adequately address the money laundering risks that arose from Star's dealing with Asian gambling junket Suncity and its funder, as well as continuing to deal with them despite becoming aware of reports of criminal links.ASIC alleged Ms Martin permitted misleading statements to be provided by Star to NAB regarding the use of debit cards issued by China Union Pay International Ltd (CUP) at NAB ATMs located on Star's premises.Those statements disguised the fact that Star was permitting CUP cards to be used for gambling, which was prohibited by CUP.Justice Lee said: "The object is the protection of the public interest by imposing sanctions sufficient to deter future contraventions by the contraveners and by others occupying positions of similar responsibility."There is no tariff for governance failures within large publicly listed corporations, still less for failures occurring within enterprises carrying the unusual privileges and risks associated with casino operations."A substantial section of the judgment was devoted to their self-serving statements which talked about the distress of the case but not the failings that brought it about."Although both contraveners relied upon evidence of reputational harm, professional consequences and, in Ms Martin's case, physical and psychological conditions, there was very little evidence demonstrating developed insight into the seriousness of the contraventions themselves," Justice Lee said.Justice Lee said he was not convinced Mr Bekier and Ms Martin had insight into their wrongdoing."It is one thing to regret the consequences of having been investigated and sued," he remarked."It's another to demonstrate an appreciation of why the conduct found by the court involves serious failures in the discharge of duties owed by senior officers of a casino operator."He said there had been statements of acceptance and regret by Ms Martin.But the judge also made a veiled swipe at the use of corporate speak in the court."The phrase of Mr Bekier that 'I accept responsibility' has become a familiar formula in public life," Justic Lee said."It may be sincere, but without some articulation of what is accepted, why his conduct was wrong, and what ought to have been done differently, is a conclusion rather than evidence of insight."