In revelations that will be internationally embarrassing for Australia's corporate watchdog, internal company files reveal that bribery, corruption and...

Joanne Ma

In revelations that will be internationally embarrassing for Australia's corporate watchdog, internal company files reveal that bribery, corruption and cover-ups in Leighton Holdings' international construction empire were known to top executives. The files expose plans to pay alleged multimillion-dollar kickbacks in Iraq, Indonesia and Malaysia. Among the most explosive of the files is a memo on 23 November 2010 handwritten by then acting CEO David Stewart. The memo says Leighton International's managing director, David Savage, revealed during a meeting that he and Wal King knew a $42mm kickback was paid to a company nominated by Iraqi officials who selected Leighton for a $750mm oil pipeline contract. Mr King, one of Australia's most highly regarded chief executives and who has reportedly been approached by Malcolm Turnbull about taking a seat on the board of NBN Co, was CEO of Leighton Holdings for 23 years. (VIEW LINK)


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