Perth gold bug pleads guilty to insider trading in Genesis shares


The Commonwealth Director of Public Prosecutions has alleged that Mr Waugh acquired knowledge of the Genesis transformation before it was announced to the market while working for a privately held company called Omnia Company Pty Ltd.

No allegations of impropriety have been made against Mr Power nor Mr Finlayson, and The Australian Financial Review does not suggest either man engaged in any wrongdoing.

The Commonwealth Director of Public Prosecutions has alleged that Mr Waugh used the information he gained at Omnia to acquire 747,626 shares in Genesis between September 14 and 21, 2021.

Mr Waugh will be sentenced in the Supreme Court of WA on March 26.

Genesis has become the vehicle through which Mr Finlayson is trying to consolidate the Leonora gold district. The company has acquired Dacian Gold and last year bought the Gwalia mine off St Barbara.

Genesis shares were $1.60 on Wednesday – well above the 74¢ they were fetching on September 17, 2021.



This article was originally published by a www.afr.com . Read the Original article here. .