Cardno settles claims of bribery scandal quagmire
Share
Cardno has settled a lawsuit against Ecuadorians who sold the Australian engineering outfit a firm that was allegedly bribing top government officials and noting down the corrupt payouts in a coded journal.
The acquired firm, Caminosca, was secretly greasing palms to win big project contracts in a scam using cipher words such as ″Bandwidth″ and ″Mhz″ for bribes, investigators for Brisbane-based Cardno later concluded.
Cardno bought Caminosca, a firm whose projects included work in the Ecuadorian capital of Quito.
Shutterstock
Florida court documents obtained by
The Australian Financial Review since show the “parties have entered into a confidential settlement agreement”.
Physio group Back In Motion pitches PE for leg up
Share
Physio roll-up Bank In Motion Group is bending and stretching in front of private equity groups, in an attempt to secure a capital injection to fuel growth plans.
Street Talk can reveal Back In Motion Group has PwC’s M&A team pitching the group to growth-minded PE types, offering them a slice of the business in return for fresh funds.
“Back in Motion has a reputation as an industry leader.providing a tangible career pathway for therapists,” according to the sale flyer.
PwC
Up for grabs, according to a sale flyer sent to potential investors and obtained by Street Talk, is the rights to be Back In Motion’s master franchisor and/or acquire a stake in some or all of the group’s physio clinics.