Former Chief Executive of AWB, Mr Andrew Lindberg, has admitted to four breaches of the law in relation to alleged $125 million bribes.
The bribes were allegedly paid by AWB to Saddam Hussein’s government between 2001 and 2005 to assure wheat sales. Mr Lindberg failed to tell the AWB board about the illegal deals that were being done with Iraq.
Regulator ASIC began negotiations with Mr Lindberg in December 2010. In return for Mr Lindberg’s four admissions, ASIC recommended a fine of $100,000 and disqualification from managing companies for just under 2 ½ years. This has now been ratified by the Victorian Supreme Court.
The case against five other former officers of AWB is ongoing.