The former CFO of Big Un Limited, Mr Andrew Scott Corner, has appeared via his lawyer in the Downing Centre Local Court charged with insider trading contrary to s1043A(1) of the Corporations Act.
ASIC alleges that Mr Corner was in possession of inside information in late 2017 when he procured two private companies to sell 1.7 million Big Un shares for a total value of more than $5 million.
The information that Mr Corner allegedly possessed related to a funding arrangement between Big Un’s subsidiary, Big Review TV Limited and Sydney-based financier, First Class Capital.
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 into voluntary administration and delisted from the ASX in August 2018. It is now in liquidation. Big Review TV is also in liquidation.
The matter has been listed for mention at the Downing Centre Local Court on 25 July 2023.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral from ASIC.
