Former ABC executive acquitted
FORMER childcare mogul Martin Vincent Kemp has been acquitted of a charge of exercising his powers to personally gain more than $3 million from ABC Learning Centres.
A Brisbane District Court jury took just a few hours to find him not guilty of offences against the Corporations Act after a three-week trial.
Kemp, who was executive director of ABC's Australia and New Zealand arm, arranged for ABC to buy three childcare centres and freehold land he controlled in January, 2008.
He was also accused of failing to disclose the conflict of interest to the board and did not act in good faith in the best interests of the company.
Kemp, who pleaded not guilty to the charges, denied he did so to pay his debts.