Former Sirtex chief executive Gilman Edwin Wong was sentenced to 18 months imprisonment on Thursday but released on a good behaviour bond after being convicted of insider trading in the cancer treatment group's shares.
Mr Wong faced up to 10 years' imprisonment after he pleaded guilty in the Downing Centre Local Court in Sydney last July to selling 74,698 Sirtex shares for more than $28 each on October 26, 2016, when he was in possession of inside information. In December that year, Sirtex lowered its guidance to predict growth of 5 to 11 per cent, which triggered a share price plunge of 37 per cent to $16.in January 2017 as ASIC began an investigation into his trading.
ASIC had also hit Sirtex with a fine of $100,000 that year following an investigation that found the company was in breach of its continuous disclosure obligations. There was no admission of liability by Sirtex.
Why would you put this in the Buisness section of the paper put this bastards face on the front page , you regularly name and shame racists and Misogyny is a crime to you what about White Collor Crime that matters a lot more. Boycott any of his family relations businesses.
Two million dollars taken from what could have been put into funding cancer research.. the result for this SCUM.? He can’t manage a company for five years.? Tear this legal system down and replace it with real justice: whatever happened to proceeds of crime, asset seizures ect😡?
LNP donor?
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