The corporate watchdog has launched a major investigation into allegations certain executives and directors at Leighton Holdings and its successor CIMIC breached their duties and failed to disclose to investors the existence of a multimillion-dollar bribery scandal.
The ASIC investigation was sparked by revelations in Fairfax Media this year that senior figures inside Leighton and CIMIC had for four years buried a scathing internal report which implicated mining subsidiary Thiess in an alleged multimillion-dollar bribery scandal in India. Leighton was renamed CIMIC in 2015 after being acquired by Spain’s Grupo ACS in early 2014.
CIMIC declined to comment.
The full original article can be found at smh.com.au