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Former investment analyst sentenced for insider trading

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  • September 14 2020
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Former investment analyst sentenced for insider trading

By
September 14 2020

A former investment analyst has been sentenced to three years imprisonment for insider trading in relation to Big Un Limited. 

Former investment analyst sentenced for insider trading

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By
  • September 14 2020
  • Share

A former investment analyst has been sentenced to three years imprisonment for insider trading in relation to Big Un Limited. 

Former investment analyst sentenced for insider trading

Mr Ming Jinn Ho will serve the next three years in an intensive correction order – in the community – due to the fact that he co-operated with the investigation. 

In a statement released by the Australian Securities and Investments Corporation (ASIC), Michael Ming Jinn Ho used inside information to trade on approximately $1.6 million in assets communicated to him by Big Un CEO Richard Evertz.

Mr Ho pleaded guilty to five counts of insider trading and one count of communicating inside information.

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Mr Ho co-operated with ASIC throughout the course of its investigation by participating in voluntary interviews and providing documents.

Former investment analyst sentenced for insider trading

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’s sentence of 50 per cent in recognition of his co-operation and early guilty plea.

“ASIC will take strong action against market misconduct in order to ensure Australia’s financial markets remain robust, fair and efficient,” said ASIC deputy chair Daniel Crennan QC, adding that individuals who co-operated with ASIC may receive “significant discounts” in sentencing.

“ASIC 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.”

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About the author

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Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

author image

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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