Overview
Vittorio Letizia, an accountant from Cottesloe in Perth, appeared at Perth Magistrates Court on 20 December 2024 charged with five counts of insider trading.
What is alleged
ASIC alleges that Letizia bought shares in Genesis Minerals Limited on five occasions in September 2021 while holding inside information about the company.
How the case is being prosecuted
The case is being prosecuted by the Commonwealth Director of Public Prosecutions under section 1043A(1) of the Corporations Act. At the time of the alleged offending, that provision carried a maximum penalty of 15 years imprisonment, or a fine of $999,000, or three times the benefit gained - whichever is greater.
Court dates and next steps
The case has progressed through several court dates. A three-week trial is listed to commence on 30 November 2026 in the Federal Court of Australia.
Key actions
- Trading in shares while holding inside information is a criminal offence under section 1043A(1) of the Corporations Act. Penalties include up to 15 years imprisonment, fines up to $999,000, or three times the benefit gained - whichever is greater.
- ASIC's insider trading guidance is available at https://asic.gov.au for information on what constitutes inside information.
- Updates on this case are published on the ASIC media releases page. The next listed court event is the three-week trial commencing 30 November 2026 in the Federal Court of Australia.
This is a plain-English summary for information only, not legal or compliance advice. Always check the official source or consult a qualified professional.