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Former Rio Tinto CFO Elliott resigns from Britain's Takeover Panel
October 20, 2017 / 9:32 AM / 2 months ago

Former Rio Tinto CFO Elliott resigns from Britain's Takeover Panel

LONDON (Reuters) - Former Rio Tinto (RIO.L)(RIO.AX) chief financial officer Guy Elliott has stepped down from Britain’s Takeover Panel following fraud charges brought by the U.S. Securities and Exchange Commission (SEC) related to his time at the miner.

FILE PHOTO: Chief Financial Officer of Rio Tinto, Guy Elliott, speaks during Russian Business Week 2011 at the London School of Economics in London February 18, 2011. REUTERS/Stefan Wermuth/File Photo

Elliott, who worked as CFO of Rio Tinto between 2002 and 2013, also stood down as a non-executive director of Royal Dutch Shell (RDSa.L).

He was charged by the SEC this week alongside Rio Tinto Plc and former Rio CEO Tom Albanese accused of inflating the value of coal assets in Mozambique and concealing critical information while tapping the market for billions of dollars.

Elliott has vowed to vigorously contest the charges.

The SEC is seeking to have Elliott and Albanese barred from acting as officers or directors of any public company.

Reporting by Clara Denina; editing by Jason Neely

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