South32, one of the world’s largest mining companies, has recently been in the spotlight for its unethical business practices. The company’s directors have been accused of taking advantage of BHP Billiton’s fishing rip-off policies in order to increase their own profits. This has raised serious concerns among shareholders and industry experts alike.
South32 Directors’ Unethical Plan
South32’s directors have been accused of taking advantage of BHP Billiton’s fishing rip-off policies in order to increase their own profits. This involves the company’s directors buying and selling shares in BHP Billiton’s stocks at artificially inflated prices. The directors then use the proceeds from these sales to purchase South32 shares, thus increasing the value of their own investments.
The company’s unethical plan has been widely condemned by shareholders and industry experts alike, with many calling for an investigation into the matter. The Australian Securities and Investments Commission (ASIC) is now looking into the matter, and has stated that it will take “appropriate action” if any wrongdoing is found.
BHP Billiton’s Response to Rip Off
BHP Billiton has strongly condemned South32’s unethical plan. The company has stated that it “will not tolerate any form of market manipulation” and is “committed to ensuring that its shareholders are not disadvantaged in any way”.
BHP Billiton has also taken steps to ensure that South32’s directors are held accountable for their actions. The company has issued a statement demanding that the directors “immediately cease and desist from any further attempts to take advantage of BHP Billiton’s fishing rip-off policies”.
South32’s unethical plan to take advantage of BHP Billiton’s fishing rip-off policies has raised serious concerns among shareholders and industry experts alike. BHP Billiton has strongly condemned the plan and is taking steps to ensure that the directors are held accountable for their actions. It remains to be seen what the outcome of the ASIC’s investigation into the matter will be, but it is clear that South32’s unethical plan is not kosher.
