A FORMER Macquarie banker, sobbing and shaking in the witness box, has told of the huge pressure he felt to perform in his role, how he took millions of dollars for himself while running a fund and the burden he felt being secretly HIV positive.
Oswyn De Silva, 36, broke down as he gave evidence in the New South Wales Supreme Court yesterday and admitted, under legal privilege, that he had devised a plan to earn millions of dollars beyond his $175,000 salary and bonuses by front-running.
The Australian Securities and Investments Commission says Mr De Silva made $3.6 million from 29 trades in 2006 and 2007 by buying securities, or contracts for difference, in his own name shortly before Macquarie Bank placed large purchase orders for the same securities.
Mr De Silva, of Kuala Lumpur, has not been charged over these allegations and the evidence he gave yesterday cannot be used against him if he is. But he is facing a possible jail term for trying to flee Australia earlier this month, in breach of court orders that he remain here while ASIC continues its investigation. He is charged with contempt of court and was giving evidence in relation to that.
Justice George Palmer is due to sentence Mr De Silva tomorrow.
