A very very rich man died because of (I think) a huge huge fall...

A very very rich man died because of (I think) a huge huge fall from grace because the court applied the following rule on him-
“Agreements between competing businesses to fix prices are illegal under the Competition and Consumer Act 2010. Price fixing agreements do not have to be in writing: they can be a ‘wink and a nod’, made over a drink in the local pub, at an association meeting or at a social occasion"

I think that was related to ASX:AMC price fixing case. I am sure this could be applied to insider trading cases too.

Late Rene Rivkin also had a huge fall related to QAN insider trading, where he was punished for a tiny (or may be none) gain for using the information while the source of the information was found not guilty.

Keeping those in mind, it is difficult to see any fund-manager can gain and then use any inside info by having a private meeting with a company insider.

In my view, the fundies just use them to impress their clients.