Former Oz talkshow host, comedian and TV producer Steve Vizard will face civil court proceedings for insider trading with regard to stock worth A$850,000 ($637,000).
Corporate watchdog the Australian Securities and Investment Commission (ASIC) has alleged he traded tech stocks Sausage Software, Computershare and Keycorp using sensitive information that he gained as a member of telco Telstra’s board.
If convicted he faces fines of up to $450,000 and a ban on managing a business for an as-yet-unspecified time.
Vizard is due in court on July 21. He has evaded criminal charges to many people’s surprise.
The comic-host got his start on sketch laffer “Fast Forward” in the 1980s and was the host of “Tonight Live,” a “Letterman”-style show, from 1990-93. He left to set up Artist Services, one of the country’s top TV production shingles.