R v Hartman [2010] NSWSC 1422

R v Hartman [2010] NSWSC 1422

The offender's prolonged, systematic insider trading and tipping involved serious breaches of law and trust for personal gain, produced profits in excess of $1.9 million, and required full-time custody to achieve punishment and general deterrence despite youth, psychiatric illness, gambling addiction, early pleas, cooperation and other mitigating factors. The insider trading offences warranted a total 25% discount and the tipping offences warranted a 45% discount including the plea, Ellis and assistance discounts.

Jurisdiction
Australia
Judgment Date
02 December 2010
Procedural Posture
Criminal Sentence / Sentencing After Pleas of Guilty
Outcome
Offender convicted on each offence and sentenced to an overall term of imprisonment of 4½ years with a non-parole period of three years.
Legal Topics
['insider Trading' 'tipping' 'front Running' 'contracts for Difference' 'commonwealth Sentencing' 'general Deterrence' 'white Collar Crime' 'ellis Discount']
['criminal Law' 'corporations Law'] ['insider Trading' 'tipping' 'front Running' 'contracts for Difference' 'commonwealth Sentencing' 'general Deterrence' 'white Collar Crime' 'ellis Discount']

Case Brief

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Procedural Posture

Criminal Sentence / Sentencing After Pleas of Guilty

Legal Issues

  1. 1 ['What sentence should be imposed for 19 insider trading offences contrary to s 1043A(1) and six tipping offences contrary to s 1043A(2) of the Corporations Act 2001 (Cth).' 'Whether the offender should receive discounts for pleas of guilty, cooperation with ASIC, the Ellis discount, and an offer to give evidence against another person.' 'What significance should be given to general deterrence, psychiatric illness, gambling addiction, youth, good character, rehabilitation prospects, and breach of trust in sentencing.']

Ratio Decidendi

The offender's prolonged, systematic insider trading and tipping involved serious breaches of law and trust for personal gain, produced profits in excess of $1.9 million, and required full-time custody to achieve punishment and general deterrence despite youth, psychiatric illness, gambling addiction, early pleas, cooperation and other mitigating factors. The insider trading offences warranted a total 25% discount and the tipping offences warranted a 45% discount including the plea, Ellis and assistance discounts.

Court Disposition

Offender convicted on each offence and sentenced to an overall term of imprisonment of 4½ years with a non-parole period of three years.

Orders

  • ['In relation to count 1, having regard to the matters on schedule 1, the offender was sentenced to imprisonment for three years commencing on 2 December 2010 and expiring on 1 December 2013.' 'In relation to counts 2 to 19, the offender was sentenced to imprisonment for two years on each count, each term to...