Charges to change in insider trading trial

The Australian Federal Police arrested the two men in May after monitoring trades conducted by Mr Kamay through foreign exchange broker Pepperstone Financial.

Joel Murphy was running the sales division of foreign exchange broker Pepperstone Financial when he says he became aware of Mr Kamay’s suspicious trades.

Lukas Kamay faces charges for insider trading, corruption and money laundering.

Meanwhile, the broker who allegedly blew the whistle on Mr Kamay’s suspicious trades is taking Pepperstone Financial to court over claims he was sacked for alerting the regulator.

Expected to plead guilty to insider trading charges: Lucas Kamay leaves court.

Former NAB employee Lukas Kamay, 26, and ex-ABS worker Christopher Hill, 24, appeared in the Melbourne Magistrates Court on Thursday for the first time since being arrested in May.

Prosecutors in one of the country’s biggest insider trading cases will seek to amend charges relating to the $7 million scandal that embroiled the Australian Bureau of Statistics and NAB.

Mr Kamay faces charges of insider trading, corruption of a public official and money laundering.

Pepperstone reported Mr Kamay to the Australian Securities and Investments Commission some time after the trades began in August last year.

Read more here: SMH


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