Eric Watson, pictured here in 2015, has been charged with insider trading by the United States Securities and Exchange Commission. Former New Zealand rich-lister and ex-convict Eric Watson has been charged with insider trading after passing non-public information about a drinks company to a friend before it announced to the stock market it would “pivot” from dealing in beverages to blockchain technology, sending its share price skyrocketing. READ MORE:* Court rules assets in Eric Watson's offshore trusts are protected, for now* Eric Watson plots possible bankruptcy and TV series from post-prison IbizaThe SEC said Watson tipped Barret-Lindsay of such plans, including by sharing with him a draft of the company's press release. Within hours of receiving the confidential information, Giguiere purchased 35,000 shares of Long Blockchain stock, the SEC said. Watson said he provided information on behalf and at the behest of the company to Long Blockchain’s investment relations firm represented by Barret-Lyndsay.

Source: Stuff July 09, 2021 20:48 UTC