Billionaire Packer Acknowledges ‘Shameful’ Email Threat
- Packer sent emails in late 2015 as he pursued a Crown buyout
- Inquiry chief says behavior unsuitable for a company director
For a fresh perspective on the stories that matter for Australian business and politics, sign up for our new weekly newsletter.
Threatening private emails by Crown Resorts Ltd.’s billionaire shareholder James Packer came to light in a probe into alleged money-laundering activities at Australia’s largest casino operator.
Though he agreed with lawyers acting for the inquiry that the emails were “shameful” and “disgraceful,” Packer said Tuesday they reflected his poor mental health at the time, and he’s now being treated for bipolar disorder.
The threatening emails, sent as he explored a privatization of the company in late 2015, risk being used as evidence to show Packer shouldn’t remain a close associate of Crown. Crown’s Sydney casino could be affected, dealing a further blow to a company that’s largely retreated from overseas operations.