A Perth court has cleared businessman John Kizon of all the charges of going in for insider trading related to a website which deals in online sex and gambling business.

Even his business partner, Nigel Mansfiled was freed from all the charges, said a West Australian District Court on Monday.

Talking to a media company, AAP, Kizon's lawyer, Stephen Shirrefs said that the judge had agreed that all the charges against Kizon were false and that there was no evidence to prove anything against him.

He, however, did not give any details about the four other charges against Kizon. Shirrefs said that till the court did not give any ruling, he could not disclose anything.

There are nine cases against the two persons in question. But, the biggest one is that the two have criminally conspired to go for insider trading.

John Wisbey was the judge during the proceedings.

The prosecutors had said that the offense was committed in between January 6 and January 12, 2002. They alleged that the two businessmen managed to get market-sensitive information about Adultshop. com and My Casion and used that to buy shares of the two companies.