Oliver Curtis trial: Crown defends John Hartman against character attacks

Crown prosecutors in Oliver Curtis’ insider trading trial have sought to defend their star witness John Hartman.

Oliver Curtis and his wife Roxy Jacenko arrive at court yesterday. Picture: Adam Yip

Crown prosecutors in Oliver Curtis’ insider trading trial have sought to defend their star witness John Hartman against claims he was untrustworthy and cut an easy deal with ASIC to get a reduced prison sentence.

In beginning to sum up the crown’s case against Mr Curtis yesterday, David Staehli SC told the jury there was “not a shred of evidence” that Mr Hartman’s evidence on how the two allegedly conducted insider trades was conditioned on a deal with the corporate watchdog to get a more lenient prison sentence, claiming Mr Hartman had “continued to live up to the truth”.

Mr Hartman has already served 15 months in prison for insider trading in a personal IG account and tipping off Mr Curtis. In return for a reduced sentence he has turned star witness for the Australian Securities & Investments Commission to give evidence against his former schoolmate.

Mr Curtis is charged with one count of conspiracy to commit insider trading, for allegedly conspiring with Mr Hartman to run an insider trading account with CMC Markets between 2007 and 2008.

During the trial Mr Hartman testified that he used his position as an equities trader at Orion Asset Management to send tip-offs to Mr Curtis via BlackBerry, who would allegedly then place corresponding trades through contracts for difference in the CMC Markets account.

Defence barristers have attacked the integrity and reliability of Mr Hartman as a witness, pointing to his personal illegal trading, manipulation of data at his former employer and the fact ASIC allowed him to keep a motor bike and BMW allegedly purchased with funds from insider trades.

Representing ASIC, Mr Staehli defended Mr Hartman’s behaviour, claiming the then 21-year-old confessed to his crimes under his own volition, without a deal being cut with the watchdog.