Former Woolworths executive on trial for fraudulent procurement

Source: Yahoo News – 16/05/2012

A former Woolworths top executive is being accused of cheating and defrauding the company of millions of dollars before laundering the money abroad.

It's alleged that the former general manager of information systems at Woolworths, David Wills, used his position to influence the awarding of contracts, netting himself $3.75 million through the dodgy procurement processes.

Wills is facing several charges including cheating or defrauding as a company officer, corruptly receiving benefits, and money laundering between February 1996 and May 1999.

Two others, Peter and Caroll Henderson, are also on trial, charged with several counts of money laundering and corruptly giving or offering benefits as an agent.

The Henderson’s were the Australian agents for Azben Technology, an Israel-based technology company, which Woolworths had awarded a $20million contract to at Wills insistence, netting the Henderson’s $US1.5million.

Crown prosecutor Sunil de Silva told the District Court in Sydney that Wills and the Henderson’s were “acting in accordance with an agreement to cheat and defraud Woolworths”.

Wills "used his position to influence the awarding of these contracts in a way that would prejudice the interests of Woolworths", De Silva says.

"If a company was awarding tenders without following procedures for tenders, it loses credibility in the financial market."

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