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Western Australian Man Charged for Insider Trading by Australian Federal Police

(LAWFUEL) -A 56-year-old Mandurah man will face Perth Magistrates Court today charged by the Australian Federal Police (AFP) with insider trading-related offences.

It will be alleged in court that the man possessed insider information in relation to the Australian mining industry and subsequently traded in shares, contrary to the Corporations Act 2001.

The investigation began in February 2004, following a referral from the former West Australian Anti-Corruption Commission. The referral included information about alleged activities during the period 4 December 2002 to 28 February 2003.

During the course of the investigation, the AFP executed a number of search warrants in Perth and a number of evidentiary items were seized.
Australian Securities and Investment Commission officers assisted the AFP
during the investigation.

The man has been charged with a total of six insider trading-related offences, contrary to sections 1043A(1)(d) and 1043A(2) of the Corporations Act 2001.

The maximum penalty for these offences is five years imprisonment.

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