High-society white collar criminal Oliver Curtis has spend his first night behind bars in NSW after he was sentenced to a year in prison for insider trading.
His lucrative crime netted him more than $1.4 million when he was 21 years old, but his luxurious lifestyle has been put on hold following his sentencing on Friday.
The husband of well-known publicist Roxy Jacenko made 45 trades between May 2007 and June 2008 based on confidential information his then-friend John Hartman possessed as an employee of Orion Asset Management.
Nine years ago Hartman, whose job was to execute trades on behalf of Orion, would send Curtis messages directing him to buy or sell a particular number of Contracts for Difference (CFDs) on a particular company's stock at specific times.
In handing down the punishment in the NSW Supreme Court, Justice Lucy McCallum said the profits from the conspiracy were used to "fund a lifestyle of conspicuous extravagance".
Profits from the scam were spent on a new Mini Cooper, a motorbike, holidays in Whistler and Las Vegas and a luxurious Bondi apartment.
Curtis was sentenced to a maximum of two years in prison, but will be released on recognisance after serving a year.
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