TER 2.44% 20.0¢ terracom limited

Ann: Australian Financial Review Article, page-9

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  1. 3,967 Posts.
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    This is an exceptionally serious allegation.

    my preliminary thoughts are that this is baffling.

    Allegation suggests that CEO and CFO are bribing
    1 ALS officials at 2 laboratories
    2. Noble trading company who are themselves using these payments for “corrupt payments“
    3. power companies at atleast 2 different power companies at 2 different countries

    all of this for reducing moisture content by around 2% maximum which benefit the company and NOT the individual persons. CEO and CFO I.e

    2% amounts to less than $2.5mil. Subtract the alleged bribe payments and there is enough change left to buy a can of whoop arse to open on Justin Williams

    my commercial manager hasn’t got hang of the entire business and he is in service for almost 10 yrs. this dude figured it all out in 1 month. By the sounds of AFR article it almost feels like the CEO came to him and said “ could you do some corrupt things for me today “....

    I don’t take corruption allegations lightly but this has a stink of an employee trying to get some payment out of its previous employer.

    quite astonishing the audacity of this complain.
 
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