ASIC today noted the sentencing of former ACIL Tasman Pty Ltd (ACIL Tasman) directors, Messrs Jeffrey Regan Rae and Charles Nicholas Morris in the Victorian County Court.

Messrs Rae & Morris were placed on bonds for two years upon entering into a recognisance in the sum of $5,000 to be of good behaviour. Both men had previously pleaded guilty to one count of being reckless and failing to exercise their powers and discharge their duties as directors in the best interests of the company.

ACIL Tasman provides economic, policy and strategy advice to business and government.

An investigation conducted by the Australian Federal Police found that Messrs Rae and Morris received and used information obtained by an employee of ACIL Tasman through hacking into a competitors’ computers in the knowledge that they were unlikely to be entitled to the material he supplied to them.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions.

The full statement is available at ASIC.