Market riggers sentenced in ASX ‘pump and dump’ case

25-315MR

criminal19 Dec 2025Penalty $22K

Respondent

Kurt Stuart

Facts

Four co-conspirators who used Telegram app group chats to pump up the share prices of Australian stocks before dumping them at inflated prices were convicted and sentenced to terms of imprisonment, to be served by way of intensive corrections orders (ICOs) of between 14 months and 2 years at the Sydney District Court on Friday.

Outcome

ASIC criminal conviction/sentence — Kurt Stuart: intensive corrections order of 2 years with 200 hours' community service and a fine of $22,270.11, after pleading guilty to conspiracy to commit market rigging and dealing with proceeds of crime (Sydney District Court, 2025-12-19). See the ASIC source for the full terms.

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Read the source

https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2025-releases/25-315mr-market-riggers-sentenced-in-asx-pump-and-dump-case

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