Former Leighton CFO has conviction quashed on appeal

Former Leighton CFO has conviction quashed on appeal

Peter Alan Gregg, the former CFO of Leighton Holdings, received a verdict of acquittal yesterday after appealing his conviction on two counts of falsifying the books.

As such, the Court of Criminal Appeal quashed the two verdicts of guilty handed down in August 2018 and entered a verdict of acquittal on each count.

The original charges followed from a Fairfax Media expose in 2016 regarding a $15 million payment made to a consultancy in Dubai.

The payment instruction directed that USD$12.5 million be paid for 'marketing and advisory' services and that USD$2.5 million be paid as a 'loan'.

During the trial, the Crown alleged that the payment instruction was false because it did not describe the true purpose of the payment.

Gregg was then sentenced to a term of imprisonment of 12 months on count one and two years on count two, to be served concurrently by way of an Intensive Correction Order.

Gregg successfully appealed against both his conviction and his sentence.

Chief Justice Bathurst said in his judgment it could not be made out, beyond reasonable doubt, that Gregg believed the payment to be "reckless".

"Up to the time of execution Mr Waugh and the appellant were seeking to have the $2.5 million treated as a loan," said Bathurst CJ.

"In these circumstances it does not seem to be open for the jury to find beyond reasonable doubt that when the appellant made the entry as to the purpose of the payment of $2.5 million, he did not believe that was the true purpose of the payment or was reckless in stating that that was the case."

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Four ways businesses can use artificial intelligence to triumph in 2022
Partner Content
The last two years have delivered major disruption to the technology industry and broad...
PROS
Advertisement

Related Stories

QLD Premier confirms borders to reopen four days early

QLD Premier confirms borders to reopen four days early

With Queensland health authorities expecting the 80 per cent double...

Douugh builds on momentum with $8 million capital raise

Douugh builds on momentum with $8 million capital raise

Digital bank Douugh (ASX: DOU) has announced an $8 million capital ...

Cobram Estate Olives to raise $51m for US expansion, Australian mill upgrade

Cobram Estate Olives to raise $51m for US expansion, Australian mill upgrade

Cobram Estate Olives (ASX: CBO) plans to ramp up local olive oil pr...

Cyber weekend sales make November the biggest month in Australian online shopping history

Cyber weekend sales make November the biggest month in Australian online shopping history

November was the biggest month in Australian online shopping histor...