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 Absurd: A banker, the executive, a jog, and the insider trading claim

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RR Phantom

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Absurd: A banker, the executive, a jog, and the insider trading claim Vide
PostSubject: Absurd: A banker, the executive, a jog, and the insider trading claim   Absurd: A banker, the executive, a jog, and the insider trading claim Icon_minitimeTue May 06, 2014 9:02 pm
A Sydney finance executive faces up to 10 years jail after being charged with 67 counts of insider trading based on tips it's believed will be alleged to have come from inside investment bank Credit Suisse.

The Australian Securities and Investments Commission alleges Michael William Hull, 39, of Cronulla, used information from a close friend working in investment banking to buy shares in companies that were involved in ''major corporate transactions''.

It is believed ASIC's case will focus on tips allegedly passed while the two men were jogging together in Sydney's Domain, on the edge of the central business district.

ASIC alleges that between 2008 and 2011 Mr Hull bought shares in nine ASX-listed companies, reaping a profit of more than $600,000.

Mr Hull was working for ''an Australian-based infrastructure investment management company'' at the time, ASIC said.

Read more: http://www.smh.com.au/business/a-banker-the-executive-a-jog-and-the-insider-trading-claim-20140506-37uon.html#ixzz30zH4hbTr
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