The public rehabilitation of Steve Vizard has begun. In tomorrow’s Weekend AustralianMagazine Vizard speaks for the first time since his insider trading debacle – and mounts the defence that he didn’t make in court.

Referring to the case brought against him by ASIC for trading on information gleaned while he was a Telstra director, Australian
writer Kate Legge writes: “According to Vizard’s legal advisers, ASIC
was relying on circumstantial evidence. The defence, which has not been
aired, argued that Vizard did not receive Telstra’s confidential emails
regarding its sharemarket intentions and that (accountant Greg) Lay did
not purchase the computer stocks using this confidential information.”

By agreeing to an admission at the time, writes Legge, Vizard ensured
that the fallout was “contained and less bloody,” but its drawback was
that it denied him “a chance at self-defence.”

One investigator quoted the Weekend AustralianMagazine
piece says: “Vizard was always going to entertain and persuade a jury
that he was innocent … We were able to bring him home but not the way
we’d planned it.”

In what seems to be a carefully orchestrated
interview, Vizard offers the mandatory bout of self-reflection. “What
have I learnt? I’ve learnt a hundred things … Remorse, the value of
friendships; that the sun comes up every day; hope; that you’ve got to
pay attention to everything,” and claims he’s “not all that interested
in business, to be honest…”

Vizard tells the Weekend AustralianMagazine
that his whole perception of reality is shaky. During the case, “some
stories were trying to disentangle the business side of this, but then
other stories became about every aspect of my life. All of them were
based on unknown sources, promoting every form of innuendo that goes to
every part of your life, so that I am now … not convinced that I have
five kids because every single fact that I know to be true was
challenged by an unnamed source.”

This is an “unconcluded story
in a lot of people’s minds,” says Vizard. “Okay, I’ve been to court and
I’ve accepted every penalty imposed, but I think what’s missing from my
story, other than me fronting up in court, is a visible conclusion.”