Legal

Former Lincoln Crowne Analyst Pleads Guilty To Insider Trading

Vanessa Doctor Asia Correspondent 19 August 2013

Former Lincoln Crowne Analyst Pleads Guilty To Insider Trading

A former analyst with Lincoln Crowne & Company has been given a two-year good behaviour bond by the Australian Securities Exchange Commission after pleading guilty to insider trading.

Jonathan Jin Yi Ang admitted to using inside information about the acquisition of Norton Gold Fields by Zijin Mining Group announced in 3 April 2012. The trading took place through an associate between 27 March and 29 March 2012, and which made a gross profit of A$4,172.60 ($3,185).

Ang will pay a pecuniary penalty order as a result of separate proceedings conducted by the Australian Federal Police. Since 2009, ASIC has prosecuted 29 insider trading matters.

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