Friday 24 November 2006 LAWFUEL – Law News Network – Justices Basten…

Friday 24 November 2006 LAWFUEL – Law News Network – Justices Basten JA, Barr J and Hall J of the NSW Court of Criminal Appeal have today dismissed an appeal by Mr Simon Gautier Hannes against his conviction and sentence on one charge of insider trading and two charges under the Financial Transactions Reports Act.

Today’s judgment confirms his conviction will stand. The matter was prosecuted by the Commonwealth Director of Public Prosecutions Background Mr Hannes, a former executive director of Macquarie Bank Limited, was convicted on one charge of insider trading in the securities of TNT Limited (TNT) and two charges under the Financial Transactions Reports Act in the Sydney District Court in August 1999. He was jailed for two years and two months and fined $110,000.

However, the convictions were quashed following a decision by the New South Wales Court of Criminal Appeal in December 2000, and he was released after serving 15 and a half months of the sentence. In September 2002, following a 15-week retrial in the Supreme Court, Mr Hannes was again found guilty of the same offences. He was sentenced in December 2002 to two and a half years jail and served four months and nine days, in consideration of previous time served. For further information contact: Angela Friend ASIC Media Unit Telephone: 03 9280 3338 Mobile: 0412 058 800

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