ASIC v. Avrohom Kimelman (insider trading, 2020)

Judgment entered

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ASIC reported in November 2021 that Avrohom Kimelman, a former Quantum Resources director, was convicted of insider trading and market manipulation in the County Court of Victoria and sentenced to 18 months, released on a recognizance and two-year good behaviour undertaking.

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 this matter on June 23, 2020 as release 20-145MR. The respondents named are Avrohom Kimelman (1 individual, 0 entities).

This library tags the matter as insider trading, based on the conduct the regulator describes. Each tag links to a page explaining how that technique works, what statute it engages, and what penalties comparable actions have attracted. The tagging is ours, not the regulator's: agencies charge statutory provisions, not technique names.

Outcome. ASIC release 21-297MR (published November 9, 2021) reports that Kimelman, who pleaded guilty on 30 June 2021, was sentenced to 18 months imprisonment, released immediately on a $5,000 recognizance with a two-year good behaviour undertaking. It says he conspired to manipulate Quantum's share price in November 2015 and procured the purchase of 1,990,963 shares in 2016 while holding inside information, and that the judge would otherwise have imposed two years and two months. The charge covered both manipulation and insider trading offences; the original insider trading charge is part of that. The sentencing date is not stated, so the release date is used.

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. 2020-06-23 ASIC media release
2. 2021-11-09 ASIC reports Kimelman sentenced to 18 months, released on recognizance

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 release 21-297MR (sentence)

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.