Australian Games firm denies allegations

August 4th, 2010 - 1:53 pm ICT by ANI  

Sydney/New Delhi, Aug.4 (ANI): The Australian firm — Sports Marketing and Management (SMAM) - has denied any wrongdoing in relation to a contract to raise sponsorships for the Delhi Commonwealth Games, and also said that it is not under scrutiny from the powerful Enforcement Directorate.

The Enforcement Directorate combats unlawful foreign currency transactions and money laundering.

Payments to SMAM and a Swiss firm, Event Knowledge Services, worth more than 12 million dollars were under scrutiny, the Times of India had reported.

SMAM last night said the reports were incorrect and it denied any wrongdoing.

‘SMAM has always operated in full conformity with applicable laws and regulations and any insinuation about inappropriate or unlawful activities is completely unfounded and without substance,’ the Sydney Morning Herald quoted it as saying in a statement.

SMAM, which has raised more than 110 million dollars for the Australian Olympic Team, won an international tender in July 2007 to assist Games organisers with sponsorships.

The director, Michael Bushell, has been involved in the marketing of the Olympic movement in Australia and other parts of the world for more than 30 years.

The reports about SMAM follow revelations that the Enforcement Directorate is investigating the transfer of about 250,000 pounds by Games organisers to a little-known British firm, AM Films.

A spokesman for Sports Marketing and Management told the Herald it had not been contacted by Indian authorities and described the reports as nonsense. (ANI)

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