The Australian Securities and Investments Commission reported that former Beacon Minerals project manager Alexander John McCulloch was convicted and sentenced to 12 months’ imprisonment for insider trading. He was released immediately on an AUD 5,000 recognisance and must be of good behavior for two years. McCulloch pleaded guilty to procuring two associates to acquire an aggregate 11 million Beacon Minerals shares in January 2017 while holding nonpublic drilling results for the Jaurdi Gold Project. The company’s share price rose 33% when the results were announced. The Commonwealth Director of Public Prosecutions prosecuted the case following a referral from ASIC.
2026-09-03Australian Securities & Investments Commission
Australian Securities and Investments Commission reports 12-month insider trading sentence for former Beacon Minerals project manager
The Australian Securities and Investments Commission reported that a former Beacon Minerals project manager received a 12-month insider trading sentence, with immediate release on an AUD 5,000 recognisance and a two-year good behavior requirement. He procured associates to buy 11 million shares while holding nonpublic drilling results that preceded a 33% share-price increase.