Andrew Scott Corner, the ex-CFO of Big Un Limited, went to court with his lawyer and was accused of insider trading.
Andrew Scott Corner, the previous CFO of Big Un Limited, has been brought to the Downing Centre Local Court via his lawyer. He is accused of practicing insider trading.
ASIC states that Mr Corner had access to confidential details in the latter half of 2017, with which he used to arrange for two organizations to sell 1.7 million Big Un stocks, with a total value of more than $5 million. The details he had included information about an agreement between Big Un’s subsidiary and a financial organization based in Sydney.
Big Un, listed on the Australian Stock Exchange (ASX) in 2017, became very successful. Unfortunately, its shares were temporarily stopped from selling in February 2018 after people found out about its agreement with First Class Capital. In August 2018, it was put into administration and taken off the ASX due to poor performance. Big Review TV is also now defunct. In July 2023, the local court in Downing Centre will hear a prosecution case opened by the Commonwealth Director of Public Prosecutions under referral from the Australian Securities and Investments Commission.
ASIC has previously taken action against the auditor of Big Un, Mr Graham Rothesay Swan, who was convicted for not doing the 2017 audit properly. Mr Jakin Leong Loke’s auditor registration was also suspended for a year because of his role in the 2017 audit. Former investment analyst, Michael Ming Jinn Ho, was given a three-year prison sentence. Plus an intensive correction order, due to his using insider trading information about Big Un between 2016 and 2018.
