A magistrate opted on March 13 to dismiss six charges of insider betting against Christopher John Shannon after he pleaded guilty to one of the counts.
The charge to which he pleaded guilty was then also dismissed on the grounds that Mr Shannon complied with all directions from his treating psychologist.
It was alleged the 48-year-old from Collaroy, on Sydney's northern beaches, used information from a commonwealth employee to bet on the Australian of the Year competition between 2017 and 2021.
Shannon allegedly knew biomedical scientist Alan McKay-Sim would become Australian of the Year in 2017, followed by quantum physicist Michelle Simmons in 2018, allowing him to place bets on both.
He also allegedly knew Craig Challen and Richard Harris, two men who helped rescue a young soccer team from a Thai cave, would receive Australian of the Year in 2019.
Shannon is accused of being aware that sexual assault survivor advocate Grace Tame would win the 2021 Australian of the Year gong before placing bets.
He also allegedly bet on the 2021 Young Australian of the Year award while knowing the outcome.
Shannon received $7542 from $1767 worth of bets, police alleged.
The charges came after the Australian Criminal Intelligence Commission reported betting irregularities in relation to the 2021 awards to the Australian Federal Police.
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