Tabcorp parts company with under investigation Elmer Funke Kupper

Business news source, ‘The Australian’ reports that Elmer Funke Kupper will no longer serve as a Tabcorp Holdings’ Director, detailing that the executive will depart the company in October.

Funke Kupper was the former Managing Director & Chief Executive of Tabcorp Holdings from 2007-2011.

In 2011, Funke Kupper left the Australian gambling group to take up leadership of the Australian Securities Exchange (ASX), being replaced by current Tabcorp CEO incumbent David Attenborough.

The executive would retain a relationship with Tabcorp Holdings acting as an Executive Director of the ASX-listed enterprise.

Nevertheless, Funke Kupper would resign as leader of the ASX in 2016, as the Australian Federal Police opened an investigation into Cambodian bribery charges alleged to have been made during Funke Kupper’s tenure as Tabcorp CEO.

The Federal Police are investigating whether Funke Kupper sanctioned payments to family members of Cambodian Prime Minister Hun Sen, with a view of securing a gambling licence.

Australian corporate laws prohibit the paying of foreign officials or industry regulatory stakeholders in order to ‘gain a business advantage or facilitating of services’.

During the police investigation, Funke Kupper has chosen to place himself under ‘a leave of absence’ as a Tabcorp Holdings corporate director.

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