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21-245MR Melbourne man charged with insider trading
Vaughan Garfield Bowen, of Brighton, Victoria, today appeared via his legal representative in the Melbourne Magistrates’ Court charged with two counts of insider trading.
The charges relate to Mr Bowen’s disposal of 5,617,554 shares in Vocus Group Limited (Vocus) on 4 June 2019.
ASIC alleges that at that time, Mr Bowen was in possession of inside information concerning the likely withdrawal of a proposal by EQT Infrastructure IV Fund to acquire all shares in Vocus, prior to this information being announced to the market.
Each charge of insider trading carries a maximum penalty of 15 years’ imprisonment.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
The matter has been listed for a committal mention hearing in the Magistrates’ Court of Victoria at Melbourne on 7 December 2021.
Insider trading is an offence under section 1043A of the Corporations Act.
Editor's note 1:
On 7 December 2021, the matter was adjourned for further committal mention to 17 February 2022.