Rene Rivkin was jailed for insider trading…. He bought 50,000 Qantas shares before the sale of Impulse, which earned him a $2500 profit. He was also banned for life from stock broking.
A very good point. He bought those shares because he was told by Geoff Dixon, the Qantas CEO at the time, that Qantas were going to buy Impulse. That was why it was considered insider trading. To sell tickets on flights already cancelled is straightforward fraud which Joyce and Co. would have been aware of. If he is not charged for insider trading then corporate Australia will be given the green light to go as fast and as hard as they can to stuff their pockets with shareholder cash. Its Bond, Skase and Holmes'a'Court all over again.