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:
“Luxury, or a refinement on the pleasures and conveniences of life, had long been supposed the source of every corruption in government, and the immediate cause of faction, sedition, civil wars, and the total loss of liberty. It was, therefore, universally regarded as a vice, and was an object of declamation to all satyrists, and severe moralists.”
—David Hume (1711–1776)