David Savage, ex-Leighton Holdings executive, has been charged over an international bribery scandal. As an executive of one of Australia’s largest companies, David Savage was allegedly trying to secure a business deal worth more than $US1.4 billion ($1.8bn). He was charged with two counts of intentionally providing false info, contrary to the Commonwealth Corporations Act of 2001.
The former chief operating officer of Leighton Holdings was arrested on Monday morning and was granted conditional bail afterward.
The Australian Federal Police started the investigation when it received suspicious information from Leighton Holdings Limited. The AFP spokesperson stated:
“The investigation revealed two contracts for the development and installation of onshore and offshore oil pipelines designed to increase the capacity of Iraq’s crude oil export. For Leighton Offshore Pty Ltd to be awarded the two contracts – which had a combined value of approximately $US1.46 billion – approvals were required from the Iraqi Oil Ministry and the South Oil Company of Iraq. AFP investigators will allege Leighton Offshore Pty Ltd funneled bribes through entities associated with Iyer-associated companies and Unaoil to guarantee approvals for the Iraq Crude Oil Export contracts.”
Mr. Savage is the second executive of this company who has been arrested by the AFP. Russell Waugh, Leighton’s former senior executive, was arrested last year as he was breaching several laws.
