R v Dulhunty; R v Roach [2015] NSWSC 1747

R v Dulhunty; R v Roach [2015] NSWSC 1747

The offenders' sustained and calculated conspiracy to create or maintain an artificial price for Healthzone shares was of considerable seriousness, notwithstanding the absence of immediate personal profit, the limited significance of Goodman's conduct, prior good character, remorse, guilty pleas, good rehabilitation prospects and extra-curial punishment. Because the offending threatened market integrity and public confidence in financial markets, general deterrence required sentences of imprisonment involving a period of actual full-time custody.

Jurisdiction
Australia
Judgment Date
30 November 2015
Procedural Posture
Criminal Sentencing for Conspiracy to Commit Market Manipulation Contrary to S. 11.5 of the Criminal Code (cth) and Ss. 1041 a and 1311 of the Corporations Act 2001 (cth) / Sentence After Pleas of Guilty
Outcome
Both offenders were convicted and sentenced to imprisonment with release after 6 months on recognisance.
Legal Topics
['conspiracy' 'market Manipulation' 'artificial Share Price' 'general Deterrence' 'recognisance Release Order' 'extra Curial Punishment']
['criminal Law' 'corporations Law' 'sentencing'] ['conspiracy' 'market Manipulation' 'artificial Share Price' 'general Deterrence' 'recognisance Release Order' 'extra Curial Punishment']

Case Brief

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Procedural Posture

Criminal Sentencing for Conspiracy to Commit Market Manipulation Contrary to S. 11.5 of the Criminal Code (cth) and Ss. 1041 a and 1311 of the Corporations Act 2001 (cth) / Sentence After Pleas of Guilty

Legal Issues

  1. 1 ['What was the objective seriousness of the conspiracy to manipulate the price of Healthzone shares.' 'Whether the conduct of Russell Goodman mitigated the seriousness of the offending.' 'Whether the offenders were motivated by immediate personal gain or by perceived corporate interests.' 'What weight should be given to guilty pleas, remorse, prior good character, rehabilitation prospects, extra-curial punishment and family hardship.' 'Whether a sentence of imprisonment was required and whether it had to involve actual full-time custody.']

Ratio Decidendi

The offenders' sustained and calculated conspiracy to create or maintain an artificial price for Healthzone shares was of considerable seriousness, notwithstanding the absence of immediate personal profit, the limited significance of Goodman's conduct, prior good character, remorse, guilty pleas, good rehabilitation prospects and extra-curial punishment. Because the offending threatened market integrity and public confidence in financial markets, general deterrence required sentences of imprisonment involving a period of actual full-time custody.

Court Disposition

Both offenders were convicted and sentenced to imprisonment with release after 6 months on recognisance.

Orders

  • ['Robert Venour Dulhunty is convicted.' 'Robert Venour Dulhunty is sentenced to imprisonment for 1 year and 6 months commencing on 30 November 2015 and expiring on 31 May 2017.' 'At the expiration of 6 months, namely on 31 May 2016, Robert Venour Dulhunty is to be released upon his own recognisance, without...