10 Jul 2021

Eric Watson charged with insider trading in US

1:02 pm on 10 July 2021

The convicted criminal and former New Zealand rich-lister, Eric Watson, and two others have been charged with insider trading in the United States.

Eric Watson.

Eric Watson. Photo: PHOTOSPORT

The US Securities and Exchange Commission says Eric Watson was a controlling shareholder of Long Island Iced Tea Corp in late 2017.

It alleges he tipped off a broker about the company changing from a soft drink dealer to blockchain technology.

It claims the broker passed on the information to a friend who made thousands of dollars when the company's share price surged 180 percent.

Watson spent four months in a London prison after being convicted of contempt of court last year, in a case brought by former business partner Sir Owen Glenn.