23MIaR,
Rene was not used or burned easily. Get your facts straight (don't be one of those media types).
I will think that you'll find that ASIC probably asked GM who knew about the transaction with QF (as they do with many big business transactions) and Rene was just one on a long list of people who GM knew/had been informed about it.
Rene was the only one stupid enough (or mentally ill enough) to trade on it.
So Rene is not a victim, no matter how you look at it. That is how these extravagant stock-brokers make the big bucks, by knowing what is happening before the market does.