The former chief financial officer of failed Australian tech company Big UN has been charged with insider trading worth $5 million.

Big Un launched a product Big Review TV, which created videos for small public-facing businesses, such as cafes and hotels. The company’s stock gained 1600 per cent in 2017, leading to scrutiny over its business model.

Andrew Corner, the company’s CFO until the firm’s collapse in April 2018, is alleged to have had insider information when he instructed two private companies to sell off $1.7 million Big Un shares, worth more than $5 million, in 2017.

“The information that Mr Corner allegedly possessed related to a funding arrangement between Big Un’s subsidiary, Big Review TV Limited and Sydney-based financier First Class Capital,” ASIC said in a statement.

“Big Un was one of the top-performing shares listed on the ASX in 2017. Its shares were suspended from trading in February 2018 after information about Big Un’s funding arrangement with First Class Capital was released.”

Corner faces 10 years imprisonment, and a $945,000 fine.

Former Big Un CEO Richard Evertz was charged with insider trading earlier this year, after communicating insider information with a shareholder in January, 2017.

Investment analyst Michael Ho was convicted of insider trading, and claimed to have received insider information from Evertz when cooperating with ASIC.

Two auditors were also previously stung over the Big Un saga: Graham Swan, formerly of Rothsay Auditing, who was convicted of failing to conduct a company audit in compliance with accounting standards, and Jakin Loke, who had his auditor registration suspended for a year in March 2022.

In 2017, after a series of investigative pieces from the AFR, Swan backed Big Un’s “conservative accounting methods” in his audit.

“As auditors of Big we are satisfied that the company have in place an adequate system of internal control and operate the high standard of accounting practices required of any publicly listed company,” he said at the time.

Corner is yet to enter a plea to the charges. The case is being prosecuted by the Commonwealth Director of Public Prosecutions, after an ASIC referral.