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Software vendor Nuix has terminated a consultancy agreement with co-founder Anthony Castagna.
The announcement was made by the publicly listed company's board in a statement lodged with the Australian Securities Exchange (ASX), although no reason was given as to why Castagna’s agreement had ended.
"Dr Castagna has been a significant part of Nuix’s success since its inception and we thank him for his long and important service to the company,” the statement said.
Castagna previously resigned from Nuix's board last year in November.
The move to cut consultancy ties with its co-founder and former chair follow an investigation by The Sydney Morning Herald, The Age and The Australian Financial Review, which reportedly found an apparent six-year gap in Nuix’s records.
That investigation, according to an article published on The Australian Financial Review, alleged that Castagna cashed out a $3,000 options package for $80 million.
Another article published less than a week later by the AFR claimed that Castagna is under investigation by the Australian Federal Police (AFP) for potential offences under the Commonwealth Corporations Act, although it is unclear why he is under investigation at this stage.
In addition to the allegations, the former chair was sentenced in August 2018 to seven years imprisonment for his role in a money laundering and tax evasion scheme, which related to his income during the time where he was a consultant for Macquarie Bank.
However, he was acquitted of the charges nearly a year later, in June 2019, with his appeal centring on an error made by the judge in the case.
