LOL @ downrampers talking crap about Ovt mob insider trading?
This is what real insider trading is LOL noobss
A geological consultant faces jail time after admitting to insider trading over suspect share purchases ahead of positive drill results at a Goldfields project.
Darryl Mapleson, who was an adviser for ASX-listed Beacon Minerals, pleaded guilty to one count of insider trading this week in the Supreme Court of WA.
Mr Mapleson was originally slapped with three charges of insider trading, which he pleaded not guilty to in December. He changed his plea for one of the charges while the other two were aborted.
The Australian Securities and Investments Commission alleged two entities Mr Mapleson was a director of procured 6,792,850 Beacon Minerals shares between 21 and 24 January 2017, while Mr Mapleson was in possession of inside information.
Shares in Beacon between January 25 and February 1 that year more than doubled from 0.9¢ to 2¢, with drilling results at its Jaurdi gold project in the Coolgardie region being released on January 31.
Beacon labelled the drilling campaign outcome announced that day as “highly successful”.
Alexander McCulloch, Beacon Minerals’ project manager at the time, was also hit with two charges of insider trading related to the January 31 drilling results. Mr McCulloch’s plea remains not guilty.
Mr Mapleson is set to appear for a sentencing hearing on August 6.
ASIC first commenced legal action against the two men in May 2021. The corporate regulator at the time said the maximum penalty for their insider trading charges was 10 years jail or an $810,000 penalty — or both.
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