Last Friday, 20 December 2024, Vittorio Letizia, of Cottesloe, Perth appeared at Perth Magistrates’ Court charged with five counts of insider trading in connection with purchases made in Genesis Minerals Limited shares in September 2021. 

ASIC alleges that Mr Letizia engaged in insider trading on five occasions in September 2021 when he purchased Genesis shares while in possession of inside information.

The matter is next listed for mention at the Perth Magistrates Court on 31 January 2025.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.

Trading while in possession of inside information is an offence under section 1043A(1) of the Corporations Act. 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.

Editor's note 1:

On 31 January 2025, the matter was listed for mention. This matter has now been committed and the committal mention date is 24 April 2025.

Editor's note 2:

The matter was adjourned by consent and is listed for committal mention on 13 June 2025.

Editor’s Note 3:

The matter was adjourned by consent and is listed for committal mention on 25 July 2025.

Editor’s Note 4:

The matter was adjourned by consent and is listed for committal mention on 10 October 2025.

Editor’s Note 5:

On 10 October 2025, the matter was adjourned by the Court and listed for committal mention on 21 November 2025.

Editor's note 6:

The committal mention was brought forward to 7 November 2025. On this date the matter was committed to the Federal Court of Australia on indictment and listed for 16 December 2025.