Reported 22 days ago
Australian mining billionaire Chris Ellison will resign from his position as managing director of Mineral Resources Ltd. after an internal investigation uncovered his involvement in undeclared payments to companies he owned, leading to a significant market value loss for the firm. The probe revealed that Ellison received millions in payments for mining parts and utilized company resources for personal benefits. He has been fined and agreed to repay the undisclosed amounts while facing ongoing scrutiny from the Australian Securities and Investments Commission.
Source: YAHOO