Video settings

Please Log in to update your video settings

Video will begin in 5 seconds.

Video settings

Please Log in to update your video settings

Alleged insider trader bought Block apartment

26-year-old former banker Lukas Kamay alleged of being at the centre of a $7 million insider trading scandal bought the twins' apartment on The Block with a $2.375 million bid.

PT0M49S http://www.canberratimes.com.au/action/externalEmbeddedPlayer?id=d-383cr 620 349

A 26-year-old banker alleged to be at the centre of a $7 million insider trading scandal successfully bid for a $2.4 million apartment designed by contestants on reality TV show The Block.

Official sources have confirmed Lukas Kamay bid $2.375 million - a massive $616,000 above reserve - for the three-bedroom loft apartment designed by twins Alisa and Lysandra in the inner-Melbourne suburb of Albert Park.

It is understood that Kamay put down a $500,000 deposit for the fully-furnished luxury property at 47 O’Grady Street and it is among the assets frozen in the joint sting by Australian Federal Police and the Australian Securities and Investments Commission. 

Block buyer: Former NAB employee Lukas Kamay, who has been charged with insider trading,  leaves court on Friday with his mother.

Block buyer: Former NAB employee Lukas Kamay, who has been charged with insider trading, leaves court on Friday with his mother. Photo: Wayne Taylor

Kamay is accused of paying Australian Bureau of Statistics employee, Christopher Hill, 24, between $50,000 and $60,000 to obtain unreleased ABS information to make millions of dollars on foreign exchange markets. The pair, who are understood to be university friends, were arrested on Friday.

Kamay, who was sacked from his job as an NAB banker on Friday, faced Melbourne Magistrate's Court on Friday on seven charges of insider trading, corruption of a public official and money laundering. Police, who said they monitored Kamay and Hill for months before the arrests, allege the duo reaped profits of $7 million from the trades.