In an insider trading deal that was NOT reported by the mass media, in front page news, Norwood Abbey Ltd (ASX:NAL) of which the Directors, fraudulently made claims to the company's research in order to obtain profits.
Company shares at the time rose from $0.04 to over $2.00, or an increase in profits of 50 fold to the people involved.
Connected to this fraudulent activity were the Directors of Norwood Abbey, employees, and certain trader of the Australian Stock Exchange.
The people involved obtained illegal funds by deception, activities which are illegal un Australian law, but since this crime occurred against the 'share holders', the relevant parties were NOT pursued nor convicted by the law.
Since 'discerning' individuals are concerned, no action was nor will be taken, a move that can only be described as a 'money for mates' deal.
In a similar move if an individual acts in the same manner against a company, they are then prosecuted ,and subsequently jailed.
The laws in Australia favour Corporate Crime.
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