Wa Man Charged For Insider Trading

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17th April 2009, 11:08am - Views: 861






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17 April 2009 



Media Release



WA man charged for insider trading

 

A 56-year-old Mandurah man will face Perth Magistrates Court today charged

by the Australian Federal Police (AFP) with insider trading-related offences.


It will be alleged in court that the man possessed insider information in relation

to the Australian mining industry and subsequently traded in shares, contrary

to the Corporations Act 2001.


The investigation began in February 2004, following a referral from the former

West Australian Anti-Corruption Commission.


The referral included information about alleged activities during the period 4

December 2002 to 28 February 2003.


During the course of the investigation, the AFP executed a number of search

warrants in Perth and a number of evidentiary items were seized.


Australian Securities and Investment Commission officers assisted the AFP

during the investigation.  


The man has been charged with a total of six insider trading-related offences,

contrary to sections 1043A(1)(d) and 1043A(2) of the Corporations Act 2001.


The maximum penalty for these offences is five years imprisonment.


Media enquiries

AFP National Media Team

Phone: (02) 6275 7100






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