The former arch financial officer
of Securency International Pty, a Reserve Bank of Australia’s
half-owned try provision element for copy money, was
given a six-month dangling visualisation in a temptation probe.
David Ellery, 56, pleaded guilty to one assign of false
accounting in a examine of former managers and employees during Note
Printing Australia Ltd. and Securency, who have been charged
with bribing officials in Malaysia, Indonesia and Vietnam to win
Supreme Court of Victoria Justice Elizabeth Hollingworth in
her written ruling currently remarkable that Ellery has cooperated with
police, granted justification to investigators and given a witness
“You will be an critical charge declare in any
committal or hearing in propinquity to a swindling charges,”
Hollingworth wrote. “An offer to give minute verbal evidence
against purported offenders will generally attract a substantial
discount” in sentencing, she said.
Securency and Note Printing Australia, that is entirely owned
by a executive bank, and 7 people who worked during the
companies, were charged over payments allegedly done between
1999 and 2004. It’s a initial time anyone’s been prosecuted
under anti-bribery laws enacted in Australia in 2000.
Note Printing Australia is governed by a house of directors
appointed by a Reserve Bank. Securency’s house has three
directors allocated by a RBA. The executive bank pronounced in its
annual news final year that it had transposed a representatives
on a dual companies’ play after a temptation charges were
Note Printing and Securency any negotiated separate
agreements in 1999 and 2000 with a Malaysian male and, or, his
company, appointing them as their representative and similar to compensate them
a elect for contracts a Australian companies obtained,
according to Hollingworth’s judgment.
Note Printing won a A$15.2 million ($15.9 million) contract
to supply Bank Negara Malaysia with 160 million 5 ringgit
($1.60) polymer records in Dec 2003, according to
Hollingworth. In Dec 2005, a Malaysian bank ordered
another 100 million of 5 ringgit notes.
Securency paid a Malaysian representative A$79,502, without
seeking any ancillary support for a payment, a judge
“Your believe that what we were doing was prejudiced at
the time is evidenced by a stairs we subsequently took to try
and disguise what had indeed happened,” Hollingworth pronounced to
Ellery in a judgment.
In response to an exploration from a partner administrator of
the Reserve Bank in Jun 2007, Ellery pronounced no commissions were
paid to a Malaysian representative and Securency had reimbursed him for
“marketing expenses,” according to a judge.
Australia’s categorical batch marketplace regulator pronounced on Mar 12
that it won’t control a grave review of company
directors concerned in a temptation probe.
To hit a contributor on this story:
Joe Schneider in Sydney at
To hit a editor obliged for this story:
Douglas Wong at