The chairman of EML Payments, the prepaid cards business once worth $2 billion, spent more than $100,000 of the company’s money on personal expenses in just 12 months.
Luke Bortoli, a former executive at buy now, pay later group Afterpay, has repaid the money, telling the company it had been approved by other directors.
Loading...
clarification —
This article has been updated to add that The Financial Conduct Authority, which stopped EML from taking on new customers, though lifted the ban in April.
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
