*Pic: Garry Stannus
FORMER Gunns boss John Gay will return to court next month as authorities renew a bid to strip him of his assets.
The Commonwealth Director of Public Prosecutions is pursuing Gay in a proceeds of crime action stemming from his insider trading in 2009.
He was convicted of insider trading in 2013 after he pleaded guilty to selling about $3 million worth of Gunns shares while privy to market sensitive information.
At the time he was the timber giant’s managing director.
In a sentence widely criticised for its perceived leniency, Gay was fined $50,000 and banned from acting as a company director for five years.
The ban was later relaxed to allow him to run a family company.
As revealed in yesterday’s Mercury ( HERE: Australian Federal Police backed off seizing former Gunns boss John Gay’s assets ), the Australian Federal Police rejected a request following his conviction to try to recoup the money he made from the insider trading.