Former Director Of Tesla Australia Pleads Guilty To Insider Trading

Kurt Schlosser, a former director of Tesla Inc’s Australian unit, has plead guilty to two counts of insider trading.

According to the Australian Securities and Investments Commission (ASIC), Schlosser traded after been hinted of a supply deal the Tesla signed with Piedmont Lithium in 2020.

The ASIC said Schlosser bought 86,748 shares in U.S.-based Piedmont in September 2020 after being informed of details of the five-year spodumene concentrate supply deal.

Schlosser then sold his Piedmont shares for a profit of roughly $28,883 and also communicated information about the deal to a friend.

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