Former analyst pleads guilty to insider trading

ASIC regulation court insider trading

25 February 2020
| By Oksana Patron |
image
image
expand image

New South Wales-based former investment analyst, Michael Ming Jinn Ho, has pleaded guilty to insider trading in securities of Big Un Limited.

According to the Australian Securities and Investments Commission (ASIC), he pleaded guilty to:

  • Five counts of insider trading, and
  • One count of communicating inside information

The charges related to Ho’s purchase and sale of Big Un Limited shares and options between July, 2016 and February, 2018, when Ho and the associates he procured invested a total of approximately $1.6 million in Big Un over this period.

Following this, Ho admitted to trading while in possession of inside information relating to Big Un and to one occasion of communicating inside information to an associate. The inside information was communicated during a series of meetings and telephone conversations between Ho and Big Un’s chief executive, Richard Evertz throughout 2016 and 2017.

Big Un was removed from the ASX in August, 2018 and was now in liquidation.

Ho is scheduled to appear in the Downing Centre District Court for a mention on 6 March, 2020.

The Commonwealth Director of Public Prosecutions is prosecuting the matter.

 

Read more about:

AUTHOR

Recommended for you

 
sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

 

MARKET INSIGHTS

JOHN GILLIES

tHOSE 989 WHO ARE CEASED WILL GO ON TO LIVE A LONG AND HEALTHY LIFE JG...

9 hours ago
Chris Cornish

What a sticth-up. Looks like Labor Senator Jess Walsh follows Stephen Jones who follows what the industry super funds ...

6 hours ago
Peter Swan

This report is a blatant display of far-left factional partisanship, treating superannuation funds as state property and...

6 hours ago

ASIC has cancelled the AFS licence of a Sydney wealth firm, the fifth Sydney firm to see a cancellation since the start of the year....

2 weeks 1 day ago

More than 20 winners from the funds management industry have been crowned at this year’s awards....

1 week 1 day ago

The corporate regulator has made a suspension and a cancellation of the AFSL of two Queensland-based firms. ...

1 week 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND