Fairfax Media is reporting top executives at the Australian construction giant Leighton Holdings’ international were aware of kickbacks that were paid to secure projects overseas.
The report by Nick McKenzie and Richard Baker says executives from the company’s international arm made payments in countries such as Iraq, Indonesia, Malaysia.
One of the examples given in the article is a $42 million kickback to a firm in Monaco nominated by Iraqi officials who gave Leighton a $750 million oil pipeline contract, which was acknowledged by acting CEO David Stewart in a memo dated September 2010.
According to the article longtime CEO Wal King was aware of the payments, and presiding over a corporate culture which rewarded incompetence and corruption.
King has reportedly been approached by communications minister Malcolm Turnbull to fill a seat on the NBN Co board. He is a prominent Australian businessman who was in charge of Leighton for 23 years.
There is more here.
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