Former Perth managing director sentenced to 18 months' jail for insider trading (ASIC, 2017)

Judgment entered

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In April 2017 former managing director Steven Noske was sentenced to 18 months' jail, released after nine, and fined A$20,000 after a Western Australian Supreme Court jury found him guilty of insider trading in WestSide Corporation shares. He is disqualified from managing companies for five years.

The record

What was ordered

Civil penalty

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Disgorgement

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Prejudgment interest

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Total relief

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Alleged gain

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Penalty as published

A$20k

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars. This regulator states penalties in AUD. The figure is recorded as published and is not converted, so it does not appear in the USD totals or medians used elsewhere on this site.

What is alleged to have happened

The Australian Securities and Investments Commission announced the sentence on April 28, 2017 as release 17-125MR.

Noske bought shares in WestSide while advising the managing director of LNG Limited on its proposed takeover of WestSide; the shares rose almost 60 percent after the announcement and his profit was A$51,246.34. The judge said he abused a position of trust.

The record previously showed the matter as filed; this release reports the sentence.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2017-04-28 ASIC media release

Primary documents

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• ASIC media release

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Same matter

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Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.