Rivkin guilty but vows fightback

Rene Rivkin has been found guilty of insider trading and faces up to five years in jail or a $210,000 fine, or both. Rivkin said he intends to appeal and continued to proclaim his innocence after the 21-day trial. He was charged with using inside information to buy 50,000 Qantas shares in April 2001 after having a conversation with the chairman of Impulse Airlines, Gerry McGowan. During that conversation Rivkin was told a merger with Qantas was imminent. Rivkin sold the shares one week later for a profit of $2,600.