A Sydney fund manager got 6 years for insider trading using secret takeover info to profit $300K.

Rodney Forrest, a former Sydney fund manager, was sentenced to six years in prison for insider trading, with a minimum of three years before parole eligibility. He used confidential information about a 2024 takeover of Platinum Asset Management to buy $2.6 million in shares and arranged trades for others, profiting over $300,000. Forrest accessed a secret PowerPoint proposal, leaked details to media, and gave unlicensed advice. The Australian Securities and Investments Commission (ASIC) detected suspicious activity in 2024, launched an investigation, and filed charges in August 2025. He pleaded guilty, forfeited $309,571.84 in profits, and the case was resolved in under a year. The conviction marks the first from ASIC’s new insider trading unit, highlighting stronger enforcement efforts in Australia.