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Thread: Rio Tinto fires Stern Hu after guilty verdict

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[quote=MARRIE,391764]source: http://money.ninemsn.com.au

30/03/2010 8:30:00 AM

Rio Tinto Ltd says it will terminate the employment of four of its staff convicted in China, including Stern Hu, who had behaved in a "deplorable" manner.

"We have been informed of the clear evidence presented in court that showed beyond doubt that the four convicted employees accepted bribes," Rio Tinto said in a statement late on Monday.

"By doing this, they engaged in deplorable behaviour that is totally at odds with our strong ethical culture.

"In accordance with our policies, we will terminate their employment."

The four former Rio Tinto executives were on Monday sentenced to jail terms ranging from seven to 14 years after being found guilty of stealing information on the steel production of Chinese giant Shougang, and receiving bribes.

Rio Tinto said in the statement that the illegal activities "were conducted wholly outside our systems".

This was the mining giant's conclusion after an internal investigation into the claims by independent forensic accountants and lawyers.

"This was done to the fullest extent possible," Rio Tinto said.

"It did not uncover any evidence to substantiate the allegations of wrongdoing."

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