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Ex-Beacon Minerals Manager Gets 12 Months for Insider Trading

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Beacon Minerals' (ASX:BCN) former project manager Alexander John McCulloch was convicted and sentenced to 12 months' imprisonment for insider trading at the Western Australian Supreme Court on Aug. 25, according to a statement by the Australian Securities and Investments Commission (ASIC) released on Thursday.

The charge related to McCulloch's procurement of two associates to acquire 11 million shares in the company in January 2017 while he was in possession of inside information, the statement said.

McCulloch managed the drilling program at the Jaurdi project when he came into possession of the inside information, according to the statement.

Beacon Minerals shares rose 1% in morning trade Friday.

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