10 Sep 2018

Trial begins for first person charged with insider trading

12:50 pm on 10 September 2018

The first person charged with insider trading is on trial at the High Court in Auckland.

Entrance to the High Court in Auckland

The High Court in Auckland. Photo: justice.govt.nz

Hamish Mark Sansom charged with using information not available to the public to trade shares.

Mr Sansom is accused of selling off his shares in Eroad after getting tipped off by a friend in 2015 by text message.

Eroad allows trucking companies to buy road user charges electronically and had recently expanded into the United States market.

The message from a friend inside the company also contained a confidential report.

Mr Sansom has pleaded not guilty.

The trial, before Justice Fitzgerald and a jury of six men and six women, has been set down for two weeks.

The Crown will open its case tomorrow morning.

Before adjourning, Justice Fitzgerald warned the jurors not to do any research or make enquiries of their own and not to discuss the case with anyone.