$100k fine for former AWB chief
THE former chief of Australia's wheat export board, AWB, will be fined $100,000 for his part in a scandal misusing the United Nation's Oil for Food program during the Iraq war, a Supreme Court judge ordered on Thursday.
As part of a long-running investigation by the Australian Securities and Investments Commission, former AWB managing director Andrew Lindberg agreed to admit contravening the Corporation Act while he led the wheat board in September last year.
The agreement was part of an out-of-court settlement after ASIC instigated legal action in the Victorian Supreme Court in 2009, before the case was returned to the court for judgement.
Judge Ross Robson found Mr Lindberg was guilty of negligence in his role as managing director, ordering a fine of $100,000 in the multi-million-dollar scandal, as well as a ban on managing companies until September 2014.