We know that Steve Vizard was secretly trading shares in Sausage Software while he was a director of Telstra — but did he also pass on information about the company to a friend?

According to information provided to Crikey last week, Vizard hosted a function in March 2000 at a Melbourne restaurant where he was heard to mention to a friend that it might be an idea to buy shares in Sausage Software, and his friend acted on the suggestion.

If it can be established that this information is true, both Vizard and his friend could find themselves in hot water with the authorities. We’ve passed on the information to ASIC for further investigation. If you can help with additional information please contact ASIC on (03) 9280 3200 or visit the website.

Meanwhile Vizard is facing the prospect of criminal charges arising from his own trading in Sausage Software, after his former accountant Greg Lay gave detailed evidence in the Roy Hilliard matter currently before the Victorian Supreme Court.

Both ASIC and the DPP have previously insisted that it was Lay’s questionable reliability as a witness – exemplified by his unwillingness to sign a statement – that prevented them from pursuing criminal charges against Vizard.

Now that Lay has shown himself to be a capital witness with an excellent memory there are many in legal circles who are speculating criminal charges can only be a matter of time.

Peter Fray

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