Commonwealth Bank is facing a lawsuit in California as a charity hits back at claims it helped US-based technology group ServiceMesh divert $US2.53 million ($A3.27m) in alleged bribes to IT executives at the Australian bank.
The US-based ACE Foundation is suing the bank for confiscating the $US2.5m, which NSW Police has claimed was delivered to former CBA executives Keith Hunter and Jon Waldron as inducements to deliver contracts worth tens of millions of dollars to ServiceMesh.
Both Mr Hunter and Mr Waldron have pleaded not guilty to the charges, though the bank has put a hold on the funds that ACE claims were delivered for services as consultants on one of its charity projects.
“Far from being secret payments, ACE advanced funds to Mr Waldron and Mr Hunter to their respective bank accounts at CBA,” the firm said in a statement.
“The court action requests a jury trial in the US to force the return of the funds, plus damages, so that the money can be used to continue the foundation’s mission and complete initiatives in progress since the organisation was founded in May 2014.”
The developments follow a lawsuit being launched by US multinational CSC against Eric Pulier, the former chief executive of ServiceMesh, in relation to the scandal.
Earlier this month CSC, which took control of ServiceMesh in 2013, said the action would seek to recover the full $US260m purchase price of the company “to recover the damages caused by Mr Pulier’s fraud, breach of contract, and breach of the duty of loyalty he owed to CSC.”
Author: DANIEL PALMER
Source: Business Spectator
Howie Thursday, 04 June 2015 14:13 Comment Link
Is the US FBI is asking Americans and New Zealanders about a "without prejudice offer" to not go to law enforcement .... and was OPENLY sent to the Alliance for Justice Centers in an open word document by banks' lawyers in Sydney and Melbourne for an opinion if it's legal to offer "debt forgiveness" if Americans don't go to the FBI in Oakland or LA? No way.Report