Former BG executive in court on insider trading charges
A FORMER executive of British Group has appeared in the New South Wales Supreme Court, charged with four counts of insider trading.
Fairfax reported that Stuart Fysh, a former BG Group executive vice-president, was charged with using inside information to buy shares in two Queensland companies - Arrow Energy and Queensland Gas Company - in 2007.
It is alleged that Fysh bought large parcels of shares in both companies because he knew that BG Group - a huge British-based energy and exploration company - was considering them for acquisition or because it wanted to form a ''strategic alliance'' with them.
The charges include two counts of using inside information to buy Arrow Energy shares, and two counts of using inside information to buy Queensland Gas Company shares.
BG is now operator of the QCLNG project on Curtis Island.