The Sure Thing · The Australian Financial Review

Ep 4. The Submarine

March 14, 2021·31 min·2 clips
Police found Lucas Kamei's discarded burner phone beneath his bedroom window.
1. The Sure Thing episode “The Submarine” covers the arrests and immediate aftermath of the Christopher Russell Hill and Lucas James Kamei insider-trading case. 2. Angus Grigg hosts as an Australian Financial Review reporter, while Ray Washall, Dean Whelans and Kylie Standing describe the ASIC and AFP investigation. 3. The episode asks how authorities converted recorded calls, trading records and search warrants into an arrest and asset-restraint case. 4. On May 2, 2014, Chris called Lucas at 11:27pm with ABS figures three days before their official release. 5. The figures covered building approvals, unemployment and retail sales, three indicators of Australian economic conditions. 6. Vesna Polyak explains that Lucas used weaker-than-expected data to short the Australian dollar before buying it back more cheaply. 7. The trade information produced more than $680,000 for Lucas, while he deliberately lost just under $790,000 during the final trading period. 8. Ray Washall and Dean Whelans say investigators waited six days and three data releases before executing search warrants and arrests. 9. Clinton Free and Craig Merritt describe Chris's anxiety, increased drinking and difficulty sleeping during the nine months of insider-information exchanges. 10. On resolution day, ASIC and AFP teams assembled around 5am for simultaneous searches in Canberra and Melbourne. 11. Chris Hill says roughly 15 people and two dogs entered his Belconnen townhouse before he read “insider trading” and Lucas's name on the warrant. 12. Dean Whelans recalls Lucas's mother opening the Clifton Hill apartment door before agents searched the home he shared with his brother. 13. Ray Washall says Lucas's orderly bedroom, with lined-up socks, underwear and shirts, reflected a structured personality. 14. A burner phone found on the deck below Lucas's open bedroom window tied him to the recorded calls and strengthened the case. 15. Chris answered police questions with “no comment” while officers repeatedly mentioned the figure of seven million dollars. 16. Chris's first jail call to his father lasted about 30 seconds and focused on arranging a lawyer. 17. Chris was granted bail and spent Mother's Day at his grandmother's house with his parents and extended family. 18. Kylie Standing says Lucas's demeanour changed after she served a restraining order covering the profits and assets he had accumulated. 19. True-crime listeners interested in financial investigations and Australian markets. 20. Listeners seeking a self-contained story without procedural detail might skip it.
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