Federal MP Dave Sharma has been rumoured to be involved in insider trading since at least March 2020 when he bought Qantas shares which have since near doubled after a huge helping hand from the federal government. The alleged insider trading now also includes CSL which Diamond Dave bought shares in June 2020 and where CSL was later awarded a massive federal government contract in September 2020 to make Coronavirus drugs for the Australian population.
I emailed Dave Sharma a few questions today (2/12/20) as per below which I also sent to the Prime Ministers media division:
From: SHANE DOWLING
Sent: 02 December 2020 12:41
To: Dave.Sharma.MP@aph.gov.au; email@example.com
Subject: Media request – Suspected insider trading and rudeness to voters by Federal MP Dave Sharma
Dear Federal MP Dave Sharma
I am working on an article about your suspected insider trading and rudeness to voters on your Twitter account and I have a few questions:
- Can you confirm that when you bought shares in CSL, which you declared on the 30th of June 2020, were you aware CSL were tendering on a government contract to manufacture and supply University of Queensland and Oxford University vaccine candidates for Australia which was announced by CSL on the 6th of September 2020? (See page 14 of your Register of Members’ Interests declaration),
- Have you profited, whether realised or on paper only, from your purchase of Qantas (QAN) and Sydney Airport Holdings (SYD) shares that you declared on the Register of Members’ Interests on the 27 March 2020? What knowledge did you have at the time of the government grants that Qantas and Sydney Airport would benefit from? (See page 13 of your declaration)
- Why does your Twitter profile say: (Replies not read, so please save your vitriol.)? (See attached picture) Given you are a former diplomat and Ambassador do you agree that it is very undiplomatic of you to say such a thing to voters?
Can you please reply by 5pm today I case I have further questions and so I can publish.
Below is page 14 of Dave Sharma’s Register of Members’ Interests which shows the CSL purchase
(Click here to see Dave Sharma’s Register of Members’ Interests for the 46th Parliament)
The SMH reported on the 2nd of April 2020:
Sharma — through his family trust — bought in on March 17 when shares were trading between $3.02 and $2.86. Either way, he’s already in the money. Qantas shares closed at $3.20 on Thursday.
March 17, for the record, was the day Deputy Prime Minister Michael McCormack announced a $715 million relief package for the aviation industry. That package, of course, was public knowledge by the time Sharma bought into the airline. March 17 also saw the biggest one-day gain on the ASX since 1997 as investors rushed back into the market looking for bargains.
Qantas will also benefit from the Morrison government’s $130 billion wage subsidies, although that was announced weeks later (and likely barely conceived of when the Sharma family were buying up.) (Click here to read more)
Qantas shares closed at $5.55 today which means Diamond Dave has almost doubled his reddies since March.
Maybe the SMH is right in saying the $130 billion wage subsidies was “likely barely conceived of when the Sharma family were buying up” but that doesn’t matter. If it was “conceived” in any shape or form which includes “barely conceived” and Diamond Dave was in the know then that could be classified as insider trading. And from my memory, Virgin was asking for a federal government rescue package at about the same time which the government refused and maybe Sharma had knowledge of that as well which would have driven Qantas’ share price higher.
But the CSL purchase is what is really red-hot. Crikey reported on the 1st of September 2020:
Sharma has also long held shares in Australian biotech giant CSL, one of the best performing blue chip companies on the Australian Securities Exchange (ASX).
CSL is one of the most widely held stocks on the ASX, but it has also recently been in conversations with the Australian government about supplying the Oxford University/AstraZeneca coronavirus vaccine if it’s successful. Its shares rallied on the news. (Click here to read more)
So why did Sharma buy more CSL shares which he declared on the 30th of June 2020? It has insider trading written all over it. Dave Sharma might want to hire a good lawyer to explain the CSL purchase and what he did and don’t know of the government’s eventual contract with CSL.
CSL announced on the 7th of September 2020 on their website:
Heads of Agreement signed between CSL and the Australian Government to supply 51 million doses of University of Queensland vaccine to Australia and Heads of Agreement signed between CSL and AstraZeneca for the expected manufacture of approximately 30 million doses of the Oxford University.
Funding Deed with the Australian Government and CSL to ready its facilities for the manufacture of the AZD1222 vaccine candidate and provide an additional COVID-19 vaccine option for Australians. (Click here to read more)
The CSL – Government contract would have to be well north of $200 million and will drive the CSL share price higher.
CSL shares closed at $296.26 today which I believe means Diamond Dave has made a profit, but the share price would likely go higher once a vaccine has been finally approved and distribution has started.
For any politician suspected of insider trading, you would think they would keep a low profile and not upset anyone. But Diamond Dave isn’t just anyone and on his Twitter account he says “Replies not read, so please save your vitriol” as per the below picture. It shows Dave is not only rude but ignorant and arrogant as well because it is the people on Twitter who help pay his wage and at least some of the Twitter users who vote for him.
But I suppose we should not be too harsh on Diamond Dave. With all that insider trading to keep on top of Dave hardly has time to respond to the nasty “vitriolic” public and it probably also explains why he didn’t respond to my email above as well.
I’m sure Diamond Dave will have plenty more adventures he’ll want me to inform the public about in the near future, so we’ll keep a tab on his activities and report back soon.
Please use Twitter, Facebook, email and the other buttons below and help promote this article.
Kangaroo Court of Australia is an independent website and is reliant on donations to keep publishing so please click on the Patreon button below and support independent journalism.
If you would like to support via PayPal use the button below or for other donation options click here to go to the Donations page.
Thank you for your support.
For the KCA t-shirt shop click here.
Ah yes, the same Federal MP against increasing compulsory superannuation above the current 9% while he happily collects 15% superannuation compliments of us taxpayers..
Why is it that….. it is another day, another story on a “corrupt” politician. I am beginning to wonder if there are any honest ones left in this Parliament, which IMHO is the worst government in decades.
Is this legal? Can’t ASIC investigate? This isn’t America.
ASIC has been nobbled, stacked by LNP like all other Federal Enforcement Agencies, commonly known as puppet regimes.
Though Clive Palmer is doing a good job on Shipton calling for his dismissal, full page adverts in AFR, encourage Mr Palmer to keep up his efforts in highlighting the expenditure of ASIC boss…
once a pig in the trough,always a pig, fits in well with the others there ,nothing like being one of the chosen elite to get ahead in life ask Scotty from marketing,and his scams and rorts
Diamond Dave wants to be careful, back stabbing Scomo has his hand on Diamond Daves shoulder like he did when he back stabbed Turnbull
“This is my leader and I’m ambitious for him.”
None of them deserve “Honorable” status, all selfish in for themselves, grab whatever they can get their grubby hands, when caught out just deny all….you wouldn’t feed any of them, a sad reflection on Australia..
Honest politicians as Public Servants who weren’t extremely greedy and selfish, and cared for Australian people which they are paid to do would never cop any vitriol.
That comment alone relating to not accepting vitriolic comments by David Sharma proves that he is a dishonest, corrupt and disloyal Un-Australian reprobate.
It is obvious that one has to be corrupt and evil to be able to climb the political ladder
Keep up the good work. There seems to be no end to corrupt politicians, paedophile/corrupt Judges , pigs with their snouts in the trough, corruption hidden in politician’s family trusts; heads of media organisations getting sweet deals by friendships with politicians; journalists not doing what they are paid to do, i.e., report the news, etc., etc. But when are we ever going to see an end to these “criminal “actions. ? None of the activities ever seem to come to a head ! Shame Australia,Shame !
CAUGHT,Nose deep in Trough.
OMG Not another Liberal minded politician profiting from their time in office ,
too bad we don’t have a corruption watchdog to spook these bastards
Why are we leaving the fight against corruption up to committees and royal commissions etc.? We, the people, have the power to get rid of corrupt politicians by protesting (as long as necessary, even with safe distancing measures and mask wearing) against our current government (and future governments) if there is no improvement!
We, the people, can make them step down!!
We, the people, can demand justice, equal and fair treatment of every citizen (including politicians), fair dividing of our tax dollars, protection against
and minimising of climate change, protection of our unique flora and fauna, banning of foreign interference and influence, a clean environment, proper healthcare and education and decent roofs above all our heads and decent livelihoods!!!
They can’t keep on banning protests and demonstrations because of the coronavirus, not if PPE’s are readily available, and they certainly can’t put us all in jail!!!!
Waiting for things, organised by others, to happen gets us nowhere. This goes for everything in life!!!!
If half the world is protesting against injustice, why aren’t we? We’re not different from citizens in other countries, are we??
We can complain and complain, but what are we really doing about it???
Our political masters continually use threats of jail to silence dissent, secret court cases, whistleblowers jailed in ACT prison and even Jail Manager wasn’t advised the reason he held this political prisoner, the absolute dispicable bugging of East Timorese cabinet by ASIS under direction of weasels Howard/Downer to the benefit of Woodside to the detriment of one of the poorest nations in the world, to now demands to give Duttons goons more authority to ‘hack’ into citizens internet activities, not long back AFP dopes admitted obtaining metadata to see who wasn’t paying for Foxtel etc and passing info to US, plus a former AFP dud Commissioner accessing information to pass onto C7 grub Stokes to assist a mate under investigation… remember back in history there was a german leader who used these tactics..
Assume Duttons duds monitor Kangaroo Court and it’s wonderful truth teller owner..
How on earth did anyone living in the Wentworth Division ever think this low-life turkey was better than Dr. Kerryn Phelps?
This is front page news!!!