The former boss of the failed Tasmanian timber company Gunns may be forced to repay the profits of his insider trading.
In August John Gay was convicted of one count of insider trading in 2009, while he was the executive chairman of Gunns.
He was fined $50,000 dollars for selling 3.4 million shares with knowledge of the company’s finances that was not publicly available.
Following his sentence the Australian Securities and Investments Commission said it was up to other Commonwealth agencies whether Gay would repay the money he made from the share sale.
The Australian Federal Police has confirmed it has been asked to consider pursuing the matter.
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