September 2, 2009
AFP quits investigation in AWB
The Australian Federal Police (AFP) has quit its investigation into the Australian Wheat Board (AWB) kickbacks in Iraq, for there's no hope of prosecuting criminal charges against any of the board's former officers.
The AFP's decision to abandon Australia's highest-profile corruption probe leaves any future action in the hands of the Australian Securities and Investments Commission (ASIC) which has been running its own investigation for more than a year.
Senior lawyers believe it highly unlikely that even ASIC will pursue criminal charges against the former AWB executives, who helped funnel almost A$300 million (US$248.8 million) to Saddam Hussein's regime in breach of UN sanctions.
AWB circumvented UN rules on its oil-for-food programme for at least four years by disguising the kickbacks as fees it paid to a trucking company.
