The Australian Federal Police revealed on Tuesday that it has closed a three-year investigation into allegations of fraud against Australian gaming giant Tabcorp relating to a Cambodian sports betting opportunity.
It was alleged by an Australian media outlet in 2016 that Tabcorp had paid AU$200,000 to a business with links to the family of Cambodia’s Prime Minister, Hun Sen, as it looked for ways to expand its sports betting interests into Asia in 2009 and 2010.
Tabcorp denied the allegations, stating it had “explored a business opportunity in relation to the Cambodian sports betting market. At that time, some Asian countries were considering deregulating sports betting. Tabcorp chose not to pursue the opportunity and the business was never operational.”
The investigation proved costly for Tabcorp director Funke Kupper, who was CEO of the company at the time the AU$200,000 payment was alleged to have occurred. Kupper had remained on the Tabcorp board after being appointed Managing Director and CEO of the Australian Securities Exchange in 2011 but was forced to step down from both roles while the matter remained unresolved.
In a Wednesday announcement, Tabcorp said it had “been advised today by the Australian Federal Police that it has closed its investigation into the Cambodian matter and that it is not intending to take any action in respect of this matter.
“Tabcorp has co-operated with the AFP throughout the investigation and welcomes the conclusion of this matter.”
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