On Monday, the Australian Securities and Investments Commission (ASIC) announced that former Vocus chairman Vaughan Bowen has been indicted on two counts of insider trading.
According to the regulator, Mr Bowen, of the Melbourne suburb of Brighton, appeared via his legal representative in the County Court of Victoria on 10 May 2023 after being indicted.
The Commonwealth Director of Public Prosecutions (CDPP) formally indicted Mr Bowen on 10 May 2023 after the charges had previously been discharged following a contested committal hearing at the Melbourne Magistrates’ Court in December last year.
The regulator explained that the CDPP may directly indict an accused after the Magistrates’ Court declines to commit an accused for trial.
ASIC has alleged that in June 2019, Mr Bowen disposed of over 5 million Vocus shares while in possession of undisclosed information concerning the likely withdrawal of a proposal by EQT Infrastructure IV Fund to acquire Vocus.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following an ASIC referral. The matter is next due before court on 19 July 2023.