ASIC joins Leighton probe: report

Corporate watchdog to join AFP investigation into alleged Iraq bribes.

The Australian Securities and Investments Commission will join the Australian Federal Police in investigating Leighton Holdings (LEI) over the alleged to use of bribes secure overseas contracts, Fairfax Media reports.

According to the media outlet, ASIC will second one of its officers to the AFP team that is overseeing the probe into whether Leighton executives breached criminal laws in their attempts to win contracts in Iraq.

The AFP launched a criminal bribery probe into the matter earlier this month, but ASIC has come under fire for failing to mount an investigation into corporate offences.

Fairfax reports the expansion of the inquiry to include corporate matters will likely centre on questions of which Leighton figures are alleged to have been involved in the alleged bribes.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles