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From the AFR:
Former NAB foreign exchange trader Lukas Kamay has been sentenced to seven years and three months jail, with a non-parole period of four years and six months, Australia’s longest ever jail sentence for insider trading after pleading guilty to the $7 million crime.
Kamay’s Australian Bureau of Statistics conspirator Christopher Hill received a lesser sentence of three years and three months with a non-parole period of two years, after receiving $20,000 from his former Monash University mate for passing on undisclosed ABS economic data to make the trades.
Silly kids.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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