Insider Trading: Lawyers say small number of insider trading cases before courts 'tip of iceberg'

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Updated June 24, Curtis, 30, was found guilty of conspiring to commit insider trading on 45 separate occasions, earlier this month. The trial heard how he shared in illegal profits from insider trading using confidential information between May and June Prosecutors had pushed for a five-year prison term, arguing his crimes were a "form of cheating". However, New South Wales Supreme Court Justice Lucy McCallum handed down a minimum term of one year, saying a prison sentence would provide "real bite" as a deterrent to white-collar crimes.

Justice McCallum said white-collar crime was a serious offence and evidence in the case satisfied her that a custodial sentence was appropriate. The father of two then embraced his wife, PR executive Roxy Jacenko, before being led from the court by guards. During the trial, the court heard Curtis received tip-offs from his former best friend, John Hartman. Prosecutors said Mr Hartman, who worked for Orion Asset Management, told Curtis when to buy and sell "contracts for difference" insider trading examples australia at what price, using information not available to the public.

Mr Hartman was jailed in and served a month prison sentence for insider trading and related offences. Curtis's defence said Mr Hartman played a much larger role in the offending than he did, determining when it started and when it finished. The trial insider trading examples australia Mr Hartman and Curtis grew up in neighbouring homes in Mosman, on Sydney's north shore, and went to school together.

Mr Hartman previously said the pair saw the offending as "a bit of a game" and a way to make money. Prosecutors had argued that insider trading was not a victimless crime and that Curtis had seen an opportunity and run with it. Up until the guilty verdict, Insider trading examples australia McCallum said Curtis expressed "no contrition to any degree whatsoever" for his crimes. However Justice Insider trading examples australia was not convinced that his decision to repay the money showed any contrition because it was made "without admissions" to the crimes.

Justice McCallum noted Curtis had no prior convictions and took into consideration a number of positive character references submitted to the court.

Former colleagues and family friends described Curtis as the hardest worker, a role model, and a doting father and husband. But Justice McCallum said the bearing she could give to this evidence in her sentencing decision was limited. First posted June 24, More stories from New South Wales. If you have inside knowledge of a topic in the news, contact the ABC.

ABC teams share the story behind the story and insights into the making of digital, TV insider trading examples australia radio content. Read about our editorial guiding principles and the enforceable standard our journalists follow. The techniques used by fraudsters in online romance scams are similar to those found in domestic violence cases, according to new research.

A new Netflix series being filmed in Adelaide insider trading examples australia parts of the Northern Territory is "just the beginning" for Australia to produce original content for streaming services, according to the new chief executive of the South Australian Film Corporation.

Is it any surprise that women in both established and developing democracies feel that their governments are out of touch with insider trading examples australia concerns? It was accepted Curtis was not the insider when the illegal trades were made.

Banker convicted of conspiring to commit insider trading. The father of two was supported by his wife Roxy Jacenko throughout the trial.

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Netflix series filmed in Adelaide A new Netflix series being filmed in Adelaide and parts of the Northern Territory is "just the beginning" for Australia to produce original content for streaming services, according to the new chief executive of the South Australian Film Corporation. Democracy is failing its brief with its women problem Is it any surprise that women in both established and developing democracies feel that their governments are out of touch with their concerns?

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The plot could have been lifted from the pages of an airport novel: The friends, who met as university students, are also alleged to have placed loss-making trades to throw police off their trail. Kamay, who was sacked from his six-figure job at NAB on Friday when the story hit the news, is alleged to have made most of the profits from the ruse.

High-profile stockbroker and businessman Rene Rivkin — as famous for his trademark worry beads and cigars as much as his wealth and entrepreneurial savvy — was convicted of insider trading in following a long-running investigation by the Australian Securities and Investments Commission. Rivkin, who was dogged by mental illness, committed suicide in At just 25 years of age, John Hartman was jailed for four-and-a-half years after pleading guilty to 25 counts of insider trading in The fund management firm was of a sufficient size to have the effect of moving share prices on the stock market.

Hartman splurged his ill-gotten gains on overseas jaunts such as ski trips to Canada, luxury motor vehicles including a silver Mini Cooper and lavish nights out on the town. The court found that Bullen and Ficarra had entered into illegal and fictitious foreign currency trades between October, , and January, , to inflate profits and hide losses made on the Foreign Currency Options desk. In addition, the court ruled that the pair had gained financial advantage as a result of these actions.

In , 70 year-old Gay offloaded 3. Justice David Porter of the Tasmanian Supreme Court described Gay as being of exemplary character and ruled that his actions did not constitute a serious case of insider trading. He noted that Gay had informed his company secretary of his intent to sell the shares and added that the transaction was motivated by the fact that he he had been diagnosed with prostate cancer rather than the receipt of confidential, market-sensitive information.

American lifestyle guru Martha Stewart and her stock broker Peter Bacanovic were indicted on nine criminal counts of insider trading in The following day, ImClone shares tumbled after the company announced that the FDA had refused to file its licence application for a new cancer treatment. Bacanovic and Waksal was also convicted of federal charges and sentenced to prison terms. Raj Rajaratnam, the Sri Lankan-born American citizen who founded New York hedge fund management firm Galleon Group, was sentenced to 11 years in prison in The billionaire investor was found guilty of fraud and conspiracy by a federal jury in Manhattan.

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