Eric Watson has been charged with insider trading. File photo / Greg BowkerEric Watson has been charged with insider trading in the US after shares were traded in a drinks company before it switched to blockchain technology, sending its share price soaring. Long Blockchain jumped more than 380 per cent intraday in December 2017 after the company issued a press release announcing its new name. Lawyers representing Barret-Lindsay and Giguiere didn't immediately respond to requests for comment, and Bloomberg News was unable to contact Watson, it said. Watson was previously co-owner of Hanover Finance, which left thousands of New Zealand investors hundreds of millions of dollars short after it collapsed at the beginning of the global financial crisis.

Source: New Zealand Herald July 09, 2021 22:18 UTC