Perth gas boss jailed for insider trading

AAP

A Perth businessman has been sentenced to 18 months behind bars for insider trading, having taken advantage of market-sensitive information to buy shares in a takeover target.

Former oil and gas sector boss Steven Robert Noske pocketed $51,000 by trading in WestSide Corporation when LNG Ltd proposed to acquire it.

Noske bought the shares while he was being consulted by the managing director of LNG Ltd on aspects of the planned takeover, and West Australian Supreme Court Justice Stephen Hall said he had abused his position of trust and confidence.