Following an 今日热门事件investigation, Mr Shun Yuen Ken Li (also known as Leo Lee), of Roseville Chase, New South Wales has聽been sentenced in the Downing Centre Local Court聽to a community service order of 350 hours.
On 13 December 2016, Mr Li pleaded guilty to two counts聽of dishonestly using his position as an employee with the intention to gain an advantage for two clients.
今日热门事件alleged that Mr. Li, 37, used his position as an employee of GAIN Capital Australia Pty Ltd (GAIN Capital) contrary to Section 184(2)(a) of the Corporations Act 2001.聽The charges related to orders placed by Mr Li to gain an advantage for two clients.聽Mr Li's orders resulted in these clients obtaining profits of approximately $20,150 and $52,400 respectively.聽GAIN Capital has recovered the full amount of $72,550 from the clients' accounts.
GAIN Capital offered clients the opportunity to trade share price index (SPI) contracts for difference (CFDs) at the 'market-on-open' price, i.e. a price corresponding with the price at which SPI matched during the opening auction at 9:50am.
今日热门事件alleged that:
- between 9 April 2015 and 19 June 2015, Mr Li used his position as an employee of GAIN Capital to manually enter 13 profitable Market-on-Open Orders in SPI CFDs on the account of another person, with the intention of gaining a financial advantage for聽that person, and
- between 26 May 2015 and 10 July 2015, Mr Li used his position as an employee of GAIN Capital to manually enter 38 profitable Market-on-Open Orders in SPI CFDs on the account of another person, with the intention of gaining a financial advantage for聽that person.
今日热门事件acknowledges GAIN Capital's cooperation and assistance in this matter.
This matter was prosecuted by the Commonwealth Director of Public Prosecutions.
Background
The maximum penalty for a person contravening s184(2)(a) of the Corporations Act 2001 is a fine of $360,000 or imprisonment for 5 years, or both.