The Australian Securities and Investments Commission reported that Richard Evans, also known as Richard Evertz, former chief executive of collapsed ASX-listed technology company Big Un Limited, has been convicted and sentenced for communicating inside information. He received one year and nine months’ imprisonment, to be served through an Intensive Correction Order, and 400 hours of community service. The conviction automatically disqualifies him from managing corporations for five years. Evans pleaded guilty on April 10, 2026, to sharing sensitive information about a funding arrangement and customer onboarding with a shareholder in January 2017, when he ought reasonably to have known the shareholder was likely to trade Big Un shares and options. The Commonwealth Director of Public Prosecutions brought the case following an ASIC referral. Insider trading investigations and prosecutions are an ASIC enforcement priority for 2026. The regulator has established a dedicated team to accelerate investigations and increase criminal referrals to the Commonwealth Director of Public Prosecutions.
2026-09-25Australian Securities & Investments Commission
Australian Securities and Investments Commission reports former Big Un CEO sentenced for communicating inside information
Former Big Un chief executive Richard Evans has been sentenced to one year and nine months’ imprisonment, served through an Intensive Correction Order, and 400 hours of community service for communicating inside information. He is also automatically disqualified from managing corporations for five years.