Massive fraud uncovered at Ausdrill

AUSTRALIA’S second-largest diversified mining business believes around A$10 million has been siphoned from the company’s coffers over eight years by an Australia-based employee, allegedly by authorising payments from Ausdrill to a supplier that did not exist.

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Fake invoices were allegedly issued by a former employee.

Despite running for almost a decade, the scam was only recently uncovered "through compliance with the company's policies and procedures", Ausdrill said today.

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