Former investment analyst, Mr Michael Ming Jinn Ho, 33, has been sentenced in the Sydney Downing Centre District Court to three years imprisonment.
Mr Ho pleaded guilty to five counts of insider trading and one count of communicating inside information in respect of Big Un Limited (Big Un) shares and options between 18聽July 2016 and 10聽February 2018 (20-045MR).
Mr聽Ho invested approximately $1.6m in Big Un securities over this period while in possession of inside information communicated to him by Big Un鈥檚 CEO Richard Evertz.
Judge Michael King SC ordered that Mr Ho serve his sentence via an intensive correction order.
Mr Ho co-operated with ob体育 throughout the course of its investigation by participating in voluntary interviews and providing documents. Mr Ho also made a formal statement admitting to the offences and the facts concerning them.
Judge King quantified the discount applied to Mr Ho鈥檚 sentence of 50% in recognition of his co-operation and early guilty plea.
鈥榦b体育 will take strong action against market misconduct in order to ensure Australia鈥檚 financial markets remain robust, fair and efficient,鈥� said ob体育 Deputy Chair Daniel Crennan QC.
Mr Crennan also reinforced the importance of co-operating with ob体育. 鈥楽ignificant discounts may apply where individuals co-operate with ob体育,鈥� Mr Crennan said. 鈥榦b体育 will assess the level of co-operation it receives, and where appropriate, provide information about the nature, extent and timeliness of that co-operation to the court.鈥�
The Commonwealth Director of Public Prosecutions prosecuted the matter.
ob体育鈥檚 investigation concerning Big Un Limited and its officers and executives continues.
Background
Information Sheet 172 Cooperating with ob体育 (INFO 172) provides more information on cooperating with ob体育 investigations.