28 June 2017
download the report now

CommBank IT man jailed over bribery charges

20 December 2016  |  7606 views  |  0 Security

A former CommBank IT executive who pleaded guilty to taking bribes in a cash for contracts scandal has received a three-and-a-half year jail sentence from Australian courts.

American national Keith Hunter pleaded guilty to the charge in June after initially denying the allegations. He and another former CommBank staffer are accused of a "corrupt relationship" with US-based IT firm ServiceMesh, which saw them hand over a lucrative contract without putting it to public tender in exchange for more than $2 million in kickbacks.

Shortly after, ServiceMesh was bought by CSC. Prosecutors say that CSC was misled into paying a performance-related earn out of $98 million on the deal as the $10.5 million CommBank contract triggered the payment.

Hunter will also face charges from the US Department of Justice of conspiracy to commit securities fraud and wire fraud after any sentence in Australia is served.

His co-accused in the scandal, John Waldron, maintains his innocence and will appear before the courts next year.

CSC is also suing ServiceMesh founder Eric Pulier for the return of the $98 million.
KeywordsLEGAL

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Former CommBank IT exec faces US fraud charges

Former CommBank IT exec faces US fraud charges

30 September 2016  |  5506 views  |  0 comments | 2 tweets | 1 linkedin
Charity sues CommBank for $2.5m related to IT bribery case

Charity sues CommBank for $2.5m related to IT bribery case

27 May 2015  |  4624 views  |  0 comments | 2 tweets | 1 linkedin
Former CommBank IT manager charged with bribery

Former CommBank IT manager charged with bribery

18 March 2015  |  3540 views  |  0 comments | 2 tweets | 2 linkedin
Diebold pays $48m to settle bank bribery charges

Diebold pays $48m to settle bank bribery charges

23 October 2013  |  4049 views  |  0 comments | 1 tweets | 4 linkedin
Charges laid over Aussie banknote printing bribery

Charges laid over Aussie banknote printing bribery

01 July 2011  |  4066 views  |  0 comments
Aussie banknote maker hit by police raids over bribery claims

Aussie banknote maker hit by police raids over bribery claims

06 October 2010  |  6654 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.www.fisglobal.comdownload the report nowvisit www.events.sap.com

Top topics

Most viewed Most shared
ECB preps eurozone-wide instant payments serviceECB preps eurozone-wide instant payments s...
9137 views comments | 19 tweets | 37 linkedin
ABN Amro tests wearable tech for contactless paymentsABN Amro tests wearable tech for contactle...
8681 views comments | 10 tweets | 6 linkedin
hands typing furiouslyArtificial Intelligence- Computer to IOT
8498 views 0 | 4 tweets | 2 linkedin
hands typing furiouslyThe EU and blockchain: taking the lead?
7489 views 0 | 8 tweets | 7 linkedin
Asia still top dog for payments innovation but Europe gaining groundAsia still top dog for payments innovation...
7428 views comments | 10 tweets | 9 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job