Businessman John Kizon told a jury this morning he was "definitely not guilty" of participating in an alleged conspiracy in buying shares in sharemarket-listed company AdultShop.com.
At the start of a District Court re-trial, Mr Kizon also pleaded not guilty to a charge that he insider traded AdultShop.com shares in June, 2002.
A jury is expected to spend up to 8 weeks hearing evidence and legal argument on charges laid by Federal authorities over allegedly illegal share trading activities from January to July, 2002.
Also charged with conspiracy and a raft of insider trading counts is Mr Kizon’s business associate Nigel Mansfield.
Mr Mansfield has pleaded not guilty to all charges.
The jury has been told witnesses include a Federal surveillance officer and businessmen Dean Shannon, Jordan Rivkin and Robert Gee.
Judge Stephen Scott told the jurors that the accused men previously stood trial.
The judge said there was no need for them to speculate on why there was a retrial but this was not uncommon in our legal system.
He said the jury’s job was to consider presented at this trial. "You are not to concern yourself with other proceedings that have taken place," he said.
He said the trial might attract some media reporting, which the jury should try to not read.
The jury was sent home before the lunch break to allow legal argument in their absence.
Prosecutors are expected to open their case tomorrow morning.