share scam suspected

http://finance.news.com.au/story/0,10166,12462795-462,00.html

Share scam suspected
By John Waples and Clive Mathieson
March 07, 2005

POLICE are investigating whether a $50 million shoot-to-kill ransom threat against Australian company Multiplex was an attempt to manipulate the share price of the construction giant.

Scotland Yard, Interpol and NSW Police are investigating the threat that snipers would shoot at crane drivers on Multiplex sites in Britain and Australia unless the money was paid.
All recent share transactions in Multiplex are being examined by police, who are particularly interested in any big bets that were placed on the share price falling.

But it appears any effect the extortion threat might have had on Multiplex shares has been overwhelmed by other corporate events. The stock collapsed 16 per cent on February 24 when Multiplex warned of an unexpected $68 million hit from two British contracts, including the redevelopment of Wembley Stadium in London. The announcement led to the biggest trading day in the company's history, with 19.6 million shares changing hands.

Revelations emerged last week that the extortionist has been using a 400-year-old code to communicate with the company. Advertisements placed in the Australian press used the Vigenere Code, invented in 1586 and recently made famous by Dan Brown's book The Da Vinci Code.

Police are working on the theory that the extortionist might be an employee with a grudge. Other lines of inquiry are that the threat has been orchestrated by the Russian mafia or an aggrieved subcontractor.

The ransom deadline has now passed and no shot has been fired, but the Multiplex group remains on alert.

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I don't hold MXG