R v Wu [2021] NSWDC 627

R v Wu [2021] NSWDC 627

The offender pleaded guilty to two state offences of dishonestly obtaining financial advantage by deception under s 192E(1) Crimes Act 1900 (NSW) and a Commonwealth offence of market manipulation under s 1041A of the Corporations Act 2001 (Cth). The state offences were at the low end of objective seriousness with no real loss to the lenders, while the market manipulation involved calculated trading activity over a short period with some planning and limited market impact, falling below the mid-range of seriousness. The delay in prosecution was unexplained and materially impacted the offender’s mental health. Considering early guilty pleas, prospects of rehabilitation, delay, and...

Jurisdiction
Australia
Judgment Date
14 May 2021
Procedural Posture
Criminal / Sentence
Outcome
Conviction and non-custodial sentences imposed for State offences; conviction and term of imprisonment by way of Intensive Correction Order for Commonwealth offence.
Legal Topics
['fraud' 'market Manipulation' 'sentencing' 'white Collar Crime']
['criminal Law'] ['fraud' 'market Manipulation' 'sentencing' 'white Collar Crime']

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Procedural Posture

Criminal / Sentence

Legal Issues

  1. 1 ['Appropriate sentence for offences of dishonestly obtaining financial advantage by deception under s 192E(1) Crimes Act 1900 (NSW)' 'Appropriate sentence for market manipulation offence under s 1041A Corporations Act 2001 (Cth)' 'Application of sentencing principles including general and specific deterrence, delay, mental health, and prospects for rehabilitation']

Ratio Decidendi

The offender pleaded guilty to two state offences of dishonestly obtaining financial advantage by deception under s 192E(1) Crimes Act 1900 (NSW) and a Commonwealth offence of market manipulation under s 1041A of the Corporations Act 2001 (Cth). The state offences were at the low end of objective seriousness with no real loss to the lenders, while the market manipulation involved calculated trading activity over a short period with some planning and limited market impact, falling below the mid-range of seriousness. The delay in prosecution was unexplained and materially impacted the offender’s mental health. Considering early guilty pleas, prospects of rehabilitation, delay, and...

Court Disposition

Conviction and non-custodial sentences imposed for State offences; conviction and term of imprisonment by way of Intensive Correction Order for Commonwealth offence.

Orders

  • ['Offender convicted of three offences to which he pleaded guilty.' 'For each State offence: Community Correction Order for 2 years and 6 months commencing 14 May 2021 and expiring 13 November 2023, with standard conditions.' 'For Commonwealth offence: 1 year and 10 months imprisonment to be served by way of...