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ASIC inquiry launched into CIMIC and Leighton bribery scandal

Nick McKenzie, Richard Baker and Jenny Wiggins
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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.

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Sydney Morning Herald

Nick McKenzie is an Age investigative journalist who has twice been named the Graham Perkin Australian Journalist of the Year. A winner of 16 Walkley Awards, including the Gold Walkley, he investigates politics, business, foreign affairs and criminal justice. Email Nick at nickmckenzie@protonmail.com
Richard Baker is a former multi-award winning investigative reporter for The Age.
Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com
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    Original URL: https://www.afr.com/markets/equity-markets/asic-inquiry-launched-into-cimic-and-leighton-bribery-scandal-20161110-gsmssp