Mining giant denies fraud in Beijing Olympics
CANBERRA - The Associated Press
US and Australian juristictions have launched an investigation on BHP Billiton’s sponsorship of the 2008 Beijing Olympics. REUTERS photoGlobal mining giant BHP Billiton is under investigation by U.S. and Australian law enforcement for potential violations of anti-corruption laws through its sponsorship of the 2008 Beijing Olympics.
The U.S. Justice Department and Australian Federal Police are scrutinizing BHP Billiton’s Olympic sponsorship and hospitality to determine whether Chinese government officials or executives at state-owned companies received inducements that could have resulted in BHP obtaining a business advantage, The Australian Financial Review newspaper reported March.13.
“We believe our Olympic activities complied with all applicable law,” the world’s biggest miner said in a statement.
The company spent millions of dollars on its Olympics sponsorship and hospitality. BHP Billiton provided the metals to make the 6,000 gold, silver and bronze medals won at the Beijing Olympics and Paralympics. China’s huge industrial demand for raw materials has made the country BHP Billiton’s biggest market.