A senior employee of a major multi-national company has been arrested in western Sydney and charged with extorting around half a million dollars from a transport sub-contractor.
Detectives began investigating after the company contacted police to report the employee was allegedly receiving suspicious personal payments from the sub-contracting company.
Police allege that for over two years a senior employee extorted personal payments from a sub-contractor to maintain a transport contract.
On Wednesday evening detectives arrested a 38-year-old man at Mt Druitt and charged him with extortion, corruption and dealing in the proceeds of crime.
Police say the charges relate to alleged weekly payments and gifts, including a vehicle, demanded by the 38-year-old man from the sub-contractor, totalling approximately half a million dollars over a two and a half year period.
The man was refused bail to appear before Mt Druitt Local Court on Thursday.
A search warrant was also conducted at a home at Colyton, with cash and other exhibits seized.
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