Australian stock exchange CEO quits amid bribe investigation
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The head of Australia's main stock exchange has resigned amid an investigation into allegations that a gaming firm he once ran made a bribery payment several years ago to the family of Cambodia's prime minister.
Australian Securities Exchange chairman Rick Holliday-Smith said Monday that CEO Elmer Funke Kupper was resigning, effective immediately. Funke Kupper has denied any wrongdoing.
The shakeup follows a report published last week by Australia's Fairfax newspapers regarding a 200,000 Australian dollar ($152,000) payment allegedly made by Australian gaming giant Tabcorp to a consulting company linked to Cambodian Prime Minister Hun Sen's family in 2010.
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Funke Kupper was Tabcorp's CEO at the time and Tabcorp had been looking to launch an online gaming operation in Cambodia.