Former Tesla Motors Australia director pleads guilty to insider trading (ASIC, 2022)

Judgment entered

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In November 2022 ASIC announced that former Tesla Motors Australia director Kurt Schlosser had pleaded guilty to two insider trading offences over Piedmont Lithium shares. On March 17, 2023 the Sydney District Court sentenced him to two years and six months' imprisonment, to be released immediately on a good-behaviour recognisance. He forfeited his profit of A$28,883.53 by consent.

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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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.

What is alleged to have happened

The Australian Securities and Investments Commission announced the plea on November 16, 2022 as release 22-319MR.

Schlosser bought the shares on September 16, 2020 after being told of Tesla's in-principle supply agreement with Piedmont in his role as country director, sold them for a net profit of $28,883.53, and told a friend the same day. He pleaded guilty on November 15, 2022 and was committed to the Sydney District Court for sentence.

No sentence appears in the release, so the status stays filed; the earlier record had no defendant name and an unknown status.

Outcome. ASIC media release 23-071MR says that on March 17, 2023 Schlosser was sentenced in the Sydney District Court to two years and six months' imprisonment, released immediately upon entering a recognisance to be of good behaviour for two years and six months. An order was made by consent for him to forfeit the A$28,883.53 profit to the Commonwealth, and the conviction automatically disqualifies him from managing corporations for five years. The prosecution was brought by the Commonwealth Director of Public Prosecutions on referral from ASIC. The 30 months recorded is the length of the sentence imposed, none of which was to be served in custody. The release records the guilty pleas of November 15, 2022.

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. 2022-11-16 ASIC media release
2. 2023-03-17 Schlosser sentenced to 2 years 6 months' imprisonment, released on recognisance; profit forfeited

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• ASIC media release
• ASIC media release 23-071MR (sentencing)

The linked release is published by the issuing regulator under its own terms. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

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

Record added September 10, 2026. submit a correction.