Login
iscover
A Perth accountant has been charged with five counts of insider trading.
Newsletter
Perth accountant ‘in the know’ slammed with charges: ASIC
02 January 2025
•
4 minute read
A Perth accountant appeared at Perth Magistrates Court on Friday, 20 December and was charged with five counts of insider trading.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
It was found that insider trading was committed concerning purchases made in Genesis Minerals Limited shares in September 2021.
The charged accountant Vittorio Letizia engaged in insider trading on five separate occasions in September 2021 when he purchased Genesis shares while in possession of “inside information”, according to ASIC.
Letizia was charged under section 103A(1) of the Corporations Act, in which trading while in possession of insider information is an offence.
“At the time of the alleged offending, a breach of s1043A of the Corporations Act carried a maximum penalty of 15 years’ imprisonment or the greater of $999,000 or three times the benefit derived,” ASIC said.
The matter was set to be next listed for mention on 31 January 2025 at the Perth Magistrates Court and will be prosecuted by the Commonwealth Director of Public Prosecutions.
You need to be a member to post comments. Become a member for free today!
