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Jordinson admitted to communicating inside information about the takeover of UCL earlier this year by Oman-based Mawarid Mining to his nephew Joe Turner.
An investigation by the Australian Securities and Investments Commission found that in March 2013, Jordinson told Turner that UCL would announce it had received a takeover offer before the end of April 2013 and the price of UCL shares would be likely to rise.
Turner passed on the information to another man, Jonathan Breen, along with money and instructions to buy UCL shares on his behalf.
On April 11, Breen bought 107,463 shares in UCL at a price of A13c per share for the benefit of himself, Turner and another person.
