Corruption Allegations
A secret memo sent to the "Deputy Governor RBA" in 2007 detailing bribery and corruption within a Reserve Bank subsidiary was withheld from the police, Federal Parliament and the government. The revelation of the five-page "private and confidential" memo ties RBA governor Glenn Stevens and his recently retired deputy, Ric Battellino, to one of the worst corporate corruption cover-ups in Australian history. The 2007 memo shows that almost two years before a bribery exposed by The Age forced the RBA to call in police, Mr Battellino was given a detailed and explosive memo cataloging bribery and corruption inside Note Printing Australia, a wholly owned and supervised subsidiary of the bank.
Read more about this topic: Note Printing Australia
Famous quotes containing the word corruption:
“The corruption of the age is produced by the individual contribution of each one of us; some contribute treachery, others injustice, irreligion, tyranny, avarice, cruelty, in accordance with their greater power; the weaker ones bring stupidity, vanity, passivity, and I am one of them.”
—Michel de Montaigne (1533–1592)