Home featured Economy Featured News Economy Pair jailed in Australia’s biggest case of insider trading Guillermo Troncoso March 18, 2015 A former NAB banker and a former Australian Bureau of Statistics (ABS) analyst have been handed lengthy jail sentences for insider trading. Former banker Lukas Kamay and former ABS analyst Christopher Hill were found guilty of what Supreme Court Justice Elizabeth Hollingworth called “the worst instance of insider trading” Australian courts had seen. Kamay was jailed for seven years and three months, with a minimum term of four and a half years, and Hill was handed a prison sentence of three years and three months, with a minimum term of two years. The court heard of how, between August 2013 and May 2014, Hill had used his position in the ABS to deliver handwritten notes from unpublished information on matters relating to expenditure, retail trade and building approvals. The pair used the information to enter into foreign exchange derivative products and to profit from movements in the market. The illegal trading, which lasted for nine months, resulted in profits of approximately $7 million. Kamay took an overall net profit of $7 million, while Hill saw a return of under $20,000. The court heard that Hill did not know that Kamay had pushed the scheme past the $200,000 mark they had originally agreed would be their limit. The AFP-led Criminal Assets Confiscation Taskforce restrained the profits, which has now been forfeited to the Commonwealth and placed into the Confiscated Assets Account.