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Investment banker charged with insider trading

Investment banker charged with insider trading

Reporter
— 1 minute read

A former Credit Suisse investment banker has pleaded not guilty to charges of procuring insider trading brought after an ASIC investigation.

Darren Wayne Thompson, a former vice president at Credit Suisse Management Australia, pleaded not guilty to 11 separate charges of procuring insider trading in Sydney yesterday.

Appearing in the Downing Centre Local Court in Sydney, Mr Thompson faced charges that he procured a close friend, Mr Michael William Hull, to purchase shares of seven listed companies while in possession of inside information.

ASIC alleges the insider trading took place on 11 separate occasions between 25 May, 2008 and 3 June, 2011.

Mr Hull's profits from those trades (realised and unrealised) totalled approximately $492,000, said ASIC.

The matter was adjourned and will return to Sydney's Downing Centre Local Court 15 November, 2016.

On 3 June, 2016, Mr Hull was sentenced to 17 months imprisonment after pleading guilty to insider trading charges brought by ASIC and prosecuted by the Commonwealth Director of Public Prosecutions.

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Investment banker charged with insider trading
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