Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Case Overview: Kamay V The Queen Add in library

expert-image Elizabeth Anderson 4.7/5 hire me
0 Download3 Pages 706 Words


Write about the Case Overview for Kamay v the Queen.




In the case of Kamay v The Queen [2015] VSCA 296 (13 November 2015), the Supreme Court held the defendant Lukas Kamay guilty of money laundering, identity theft, and insider trading (Australasian Legal Information Institute, 2015). The defendant pleaded guilty to all these charges. The Supreme Court Justice, Elizabeth Hollingworth, regarded this case as the worst instance of insider trading which has come forward before any of the courts in Australia.

Facts of Kamay v The Queen 

Lukas Kamay was the associate director at the foreign exchange sales desk, of the National Australian Bank, in Melbourne, and Mr. Hill was the time series analyst, at the Australian Bureau of Statistics. Kamay and Hill had a mutual arrangement, according to which, Hill would provide the information pertaining to the MEIs (Main Economic Indicators), which are regarded as significant, as well as, supremely confidential statistics, related to the state of the market of the Australia, as well as, the economy of the country, to Kamay. Kamay would then use this MEI information, to sell/buy the margin FX contracts (Australasian Legal Information Institute, 2015). Some of these were deliberately traded at a loss, to show a normal trading pattern. Kamay went beyond the agreed limit, set between him and Hill, of $200000. This resulted in a net profit of above $7 million to Kamay, whilst Hill received only $200000 from this arrangement..


Supreme Court New South Wales 

Supreme Court Justice, Elizabeth Hollingworth, in the matter of the charges relating to insider trading, found that, Kamay knew that this MEI information was not ordinarily available information (Danckert, 2015). She held that in case this information was ordinarily available, any prudent individual would anticipate it to have a major effect upon the value/price of such contracts. She further held that the insider trading was not a victimless crime, as it not only harmed the market, but the public confidence as well. She acknowledged that Kamay had conducted 45 transaction, spread over a period of 8 months, in a carefully planner, premeditated manner. Further, Kamay took deliberate steps to conceal this by incurring some losses. So, Kamay was motivated purely and simply by personal greed, and there was no financial pressure, or any addiction problems. The judge held that even though the defendant was legitimately regretful, but the general deterrence had a key role in this whole scheme. So, she awarded Kamay imprisonment for 7 years, 3 months, for insider trading, along with a non-parole period of 4 and half years (Vines & Carlyon, 2015).

Judicial Interpretations 

Supreme Court Justice, Elizabeth Hollingworth considered that Kamay was trying to cover the proceeds of the crime committed by him, by attempting to wear a cloak of respectability. Kamay was clearly aware about the confidentiality of the MEIs, and even though it is not a serious crime, but there was a harm caused to the general public (Narushima, Rooy, & Randall, 2015). The judge also considered the sole motivation of Kamay, was to gain profits.


The judge, considering this the worst instance of insider trading, said that Kanay had only brought shame, as well as, embarrassment to himself, along with his family. Though, she held that Kanay had outstanding hopes for rehabilitation. During the sentencing, Elizabeth Hollingworth acknowledged, that she wanted the young people to be deterred, from engaging in such criminal conduct, in the corporate world. 



Australasian Legal Information Institute. (2015). Kamay v The Queen  [2015] VSCA 296 (13 November 2015). Retrieved on 06/10/16 from:

Danckert, S. (2015). Insider trader Lukas Kamay jailed for seven years. Retrieved on 06/10/16 from:

Narushima, H., Rooy, J.V., & Randall, S. (2015). Court comes down hard on Young insider trading offenders: DPP (Cth) v Hill and Kamay [2015] VSC 86. Retrieved on 06/10/16 from:

Vines, H. & Carlyon, P. (2015). 'Greedy' pair Lukas Kamay, Christopher Hill jailed over $7 million ABS insider trading scam. Retrieved on 06/10/16 from:


For years, has been operating as one of the cheap assignment help providers in the USA. We are one of the best college paper writing services that keep service price minimal. We do not let the affordability of our service to hamper the standard of our work. We have separate teams of experts to provide report writing help . At, we believe in earning credibility, so students can pay for assignments only after getting satisfied solutions. Tough assignments bother you? Trust us with your project. You will not regret paying us to write assignments for you.

Most Downloaded Sample of No Subject

348 Download1 Pages 120 Words

Explain Why Firms’ Marginal Cost Curves Become Upward Sloping After A Certain Level Of Output Has Been Reached.

  Explain why firms’ marginal cost curves become upward sloping after a certain level of output has been reached. test While for the margina...

Read More Tags: Australia Arlington Management Management University of New South Wales Management 
217 Download2 Pages 339 Words

Professional Developers Comprehend Software

Question: Discuss about the professional developers comprehend software?   Answer: I have been working in the USA Technologies for nine months now, and it ...

Read More Tags: Australia Arlington Management Management University of New South Wales Management 
156 Download3 Pages 654 Words

Rethinking Oil Nationalism

Question: Describe about the Rethinking Oil Nationalism?   Answer: 1. The engineering discipline that I have chosen is Mechanical Engineering and I have se...

Read More Tags: Australia Arlington Management Management University of New South Wales Management 
135 Download6 Pages 1,441 Words

Advertising: An Integrated Marketing Communication Perspective

Question: Explain about the Advertising for An integrated marketing communication perspective?   Answer: Introduction: Social media has become the part of...

Read More Tags: Australia Arlington Management Management University of New South Wales Management 
278 Download1 Pages 48 Words

Toulin Method Of Argumentation

You are required to write a researched argument essay that convinces persuades the reader of your position / stance. This is an academic, researched and referenced do...

Read More Tags: Australia Arlington Management Management University of New South Wales Management 
Free plagiarismFree plagiarism check online on mobile
Have any Query?