Post: Former CEO of Big Un Limited charged with insider trading

The former CEO of Big Un Limited, Mr Richard Evans, also known as Richard Simon Evertz, has appeared via his lawyer in the Downing Centre Local Court charged with insider trading.

ASIC alleges that Mr Evans communicated inside information about Big Un to a shareholder on or around 10 January 2017. The information concerned the number of customers who had already been onboarded to purchase Big Un’s promotional ‘TV Show’ package at a cost of $12,000, together with a $20 million funding arrangement with ‘Finstro’, a product of Sydney-based financier First Class Capital, which allowed customers to make this purchase on deferred payment terms.

Big Un was one of the top performing shares listed on the ASX in 2017. Its shares were suspended from trading in February 2018 after information about Big Un’s funding arrangement with First Class Capital was released. Big Un was placed in voluntary administration and delisted from the exchange in August 2018. It is now in liquidation.

The matter has been listed for mention at the Downing Centre Local Court on 11 April 2023.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral from ASIC.

ASIC’s investigation concerning Big Un and its officers and executives is ongoing.

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