Proceeds of crime penalty for convicted former Gunns CEO set in Australia

摘要

An A$500,000 ($346,000) proceeds of crime penalty has been imposed on the former chairman of failed Australian timber company Gunns, who was convicted of insider trading in 2013. In that year, John Gay pled guilty to and was fined $50,000 for selling 3.4 million Gunns shares in December 2009, when he was in a position to be aware of a huge drop in the firm's profitability (No. 19, 2015, p.4).