Background
Kevin Young, a former accountant with Heartland Bank Limited, pleaded guilty to insider trading charges brought against him by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko.
In July 2024, the FMA filed criminal proceedings against Mr Young for alleged insider trading relating to the buying and selling of shares in Heartland Group Holdings Limited (HGH). The FMA brought four charges against Mr Young. He pleaded guilty to three charges, with the FMA agreeing to withdraw one charge.
Mr Young traded, and encouraged another to hold, HGH shares between July 2020 and February 2021, while holding material information that was not generally available to the public. He also disclosed material information in relation to HGH that was not generally available to the public to a former colleague, Pritesh Patel, who subsequently purchased HGH shares.
April 2025
Kevin Young, a former treasury accountant with Heartland Bank Limited, has today been sentenced to six months home detention and ordered to pay a fine of $11,241, in relation to three charges of insider trading brought against him by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko.
December 2024
Kevin Young, a former accountant with Heartland Bank Limited, has pleaded guilty to insider trading charges brought against him by the FMA.
