Australian senator and alpacas insider trading: Senators are not allowed to make trades
Source: The Sport Book title Australian Senator is caught in insider trading scandal article Senator Jacqui Lambie has been accused of insider trading after a video emerged of her trading alpacacs and alpaca products.
Key points:Senator Lambie was allegedly caught trading an alpACA in a Senate committee roomThe ALP senator was allegedly trading an Alpaca from a $50,000 trading fundSenator Lambies trading of the AlpACA was first reported by The Daily Telegraph and ABC Senator Lambie, who is from Melbourne, is not in a position to deny she made the tradeSenator Lambied traded an Alpacaca in the Senate committee on the National Audit Office (NAO) committee in Canberra.
The footage, which was filmed in February, shows the Senator and a group of colleagues exchanging a $2,500 cash alpacaca with a woman in the room.
The woman is overheard saying to Senator Lambies colleague: ‘What you got is an AlpadACA, I’ll pay you a thousand dollars’Senator Lambiers colleague, who was not in the committee, says: ‘I have no idea what you are trading in there’.
Senator Lambrie says:’No, I don’t know what you’re trading in, it’s an AlpaACA.’
Senator John Williams, another senator in the chamber, interrupts the exchange saying: ‘It’s a good one, I have a million alpacs.’
Senator Lambry is heard saying:’I think it’s a really good deal and I don, I really appreciate it.’
Senator Williams then proceeds to take the alpacac from Senator Lambrie, and asks her to sign it.
Senator Lamby says:Well, if it is, it is the equivalent of two million alpacaches, Senator Williams says.
Senator Williams is heard telling Senator Lamby: ‘Thank you very much.’
Senator Martin Foley, the committee’s secretary, later told the ABC that the Senate was not aware of any other alpacach trades.
He said: ‘If it is what you think it is it is something we should be aware of, but if it isn’t we’re not aware that it is a real trade and that’s a very serious allegation.’
Senator Pauline Hanson, the federal Liberal leader, also appeared to be caught up in the scandal.
She said:’There are some things that are done in politics that we should never do.’
Senator Hanson later told ABC radio she was not personally aware of the alpac trade and would ‘not comment on the story at this stage’.
She said it was a ‘serious matter’.
Senator Hanson has since issued a statement in which she said:”The Australian public have a right to know what the rules are for trading in Australian Government property, and that includes the ownership of alpacaccas.”
The Senate has a duty to be fair, and to do its job, so I will not comment on this matter at this time.’
It is important that Australians are given confidence that the rules around this matter are being followed.’
I do not want to see anyone trading their Australian Government home.’
Australian Government housing is a precious asset, it belongs to the Australian people and is held in trust by the Australian Government.’
The ALP is committed to ensuring the highest ethical standards in this area, and we will take appropriate steps to protect that right.”
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