Sundance being investigated for bribery by AFP

Company News

by David Chau

Sundance Resources Ltd (ASX:SDL) has confirmed that it’s being investigated by the Australian Federal Police regarding allegations that it bribed the President of the Republic of Congo.

The alleged bribery arose out of meetings held between 2006 and 2008, when the Perth-based mining company was looking to secure exclusive mining permits in Africa.

These allegations were raised in a court case last year, when Sundance was sued by a geologist, David Porter, because it failed to pay him for his services in helping it obtain mining permits. Mr Porter won that case against Sundance.

Under Australian law, company directors can face heavy penalties for bribery (if the allegations are proven), or for offering gifts to foreign officials for the purpose of inducing them to make decisions linked to their official duties.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.