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. If you would like to support the continuance of this website, please click on the button below to donate via PayPal or go to the donations page for other donation options. (Click here to go to the Donations page)
Thank you for your support.
Follow Kangaroo Court of Australia for free and be notified via email immediately there is a new article posted
Enter your email address below and click on the follow button. You can unfollow at any time.