Australian stock exchange CEO quits amid probe into bribery made to Cambodia PM Hun Sen’s family
Resignation follows a report regarding a A$200,000 payment allegedly made by Australian gambling giant Tabcorp
The head of Australia’s main stock exchange resigned on Monday amid an investigation into allegations that a gambling company he once ran made a bribery payment several years ago to the family of Cambodia’s prime minister.
The resignation of Australian Securities Exchange CEO Elmer Funke Kupper is effective immediately, ASX chairman Rick Holliday-Smith said in a statement. Funke Kupper has denied any wrongdoing.
The resignation follows a report published last week by Australia’s Fairfax newspapers regarding a A$200,000 (HK$1.2 million) payment allegedly made by Australian gambling giant Tabcorp to a consulting company linked to Cambodian Prime Minister Hun Sen’s family in 2010.
At the time, Funke Kupper was Tabcorp’s CEO and the company was reportedly looking to launch an online gambling operation in Cambodia. Tabcorp would have needed permission from Hun Sen or his senior officials to obtain a Cambodian gambling license.
Funke Kupper, who has been CEO of the ASX since 2011, told Fairfax that he couldn’t recall any such payment. But the Australian Federal Police has confirmed it is investigating whether Tabcorp violated any foreign bribery laws.
“The ASX Board accepted that Elmer wanted to direct his full focus to the investigations which may be made into the Tabcorp matter and not have them interfere with the important role of leading the ASX,” Holliday-Smith said in the statement.