The chairman of EML Payments, the prepaid cards business once worth $2 billion, has quit amid a boardroom stoush over whether company money was spent on personal expenses.
Last week, The Australian Financial Review revealed Luke Bortoli, a former executive at buy now, pay later group Afterpay, repaid more than $100,000 spent on a company credit card, telling EML Payments it had been approved by other directors. Dr Bortoli is also the chief financial officer at lithium hopeful Pilbara Minerals.
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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
