Kranky do you think as part of the DPI DD will take into account...

Kranky do you think as part of the DPI DD will take into account this type of activity,after all its not really that often that this sort of thing gets prosecuted

Not anyone here I hope

http://www.asic.gov.au/asic/asic.nsf/byheadline/12-118MR+Melbourne+man+charged+with+insider+trading?openDocument

'Melbourne man charged with insider trading

Wednesday 6 June 2012

Mr Alex Elberg, of Caulfield North, Victoria, appeared in the Magistrates’ Court of Victoria in Melbourne today charged with one count of insider trading, following an ASIC investigation.

ASIC alleges that on 16 January 2009, Mr Elberg disposed of two million Environmental Clean Technologies Ltd (ASX:ESI) shares through Vak & Co Pty Ltd, a family-related company, while in possession of inside information which he knew or ought reasonably to have known was not generally available and that if it were generally available, would affect the price of the shares of the company.

ASIC alleges the inside information was contained in a letter dated 14 January 2009 in the possession of Mr Elberg which he and a representative of Environmental Clean Technologies Ltd had signed, concerning a proposed capital raising by Environmental Clean Technologies Ltd, via a share placement to Fiori Pty Ltd, of which Mr Elberg is the sole director. The information about the proposed capital raising for Environmental Clean Technologies Ltd was not announced to the market until after Mr Elberg disposed of Vak & Co’s shares in the ESI shares.

Mr Elberg was not required to enter a plea. The matter has been adjourned for a committal mention in the Melbourne Magistrates Court on 16 August 2012.

ASIC’s investigation arose from a referral from the Australian Securities Exchange.

The Commonwealth Director of Public Prosecutions is prosecuting the matter.