Perth accountant charged with five counts of insider trading: ASIC

A Perth Accountant appeared at Perth Magistrates Court on Friday 20 December and was charged with five counts of insider trading.

It was found the insider trading was committed in relation to purchases made in Genesis Minerals Limited shares in September 2021.

The charged accountant Vittorio Letizia engaged in insider trading on five separate occasions in September 2021 when he purchased Genesis shares while in possession of ‘inside information,’ according to ASIC.

Letizia was charged under section 103A(1) of the Corporations Act, in which trading while in possession of insider information is an offence.

“At the time of the alleged offending, a breach of s1043A of the Corporations Act carried a maximum penalty of 15 years’ imprisonment or the greater of $999,000 or three times the benefit derived,” ASIC said.

The matter was set to be next listed for mention on 31 January 2025 at the Perth Magistrates Court and would be prosecuted by the Commonwealth Director of Public Prosecutions.

Editor's note: Accountants Daily acknowledges that Vittorio Letizia was alleged to have engaged in insider trading, and apologises for any suggestions that he was guilty.