A pair of ex-Commonwealth Bank of Australia technology executives exchanged panicked emails when it became apparent to them that investigators had uncovered a scam that allegedly saw them receive over $2 million for awarding lucrative deals to a US software company.
The executives, who were sacked by the bank late last year, could face jail sentences of up to seven years after one them was arrested and charged on Wednesday.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
Ruth Liew writes on business specialising in Insurance, wealth management and financial services. Ruth is based in our Sydney newsroom. Connect with Ruth on Twitter.
