Multi-billionaire Richard Pratt is charged with giving false evidence during a price fixing investigation conducted by the ACCC.
Rather than take him to court for the price fixing, the ACCC imposed a $36 million penalty on Pratt's Visy cardboard business, an amount that was paid up promptly with the loose change found down the back of the Pratt family-room couch.
Now they're taking him to court on four counts of knowingly giving false and misleading evidence while on oath during an interview in 2005.
If found guilty, Pratt could face up to four years in jail on each of the four counts, or fines totaling $8800.
Let's review those penalty options, shall we?
If found guilty, Pratt could face:
- Jail time: 4 + 4 + 4 + 4 = 16 years maximum
- Fines: $2200 + $2200 + $2200 + $2200 = $8800