Mineral Resources’ Ellison Faces Probe From Australian Watchdog

Australia’s corporate watchdog is investigating Mineral Resources Ltd. and its tycoon founder, Chris Ellison, after he made undeclared payments that avoided tax.

“The Australian Securities and Investments Commission is aware of the situation, is monitoring developments and will be making initial inquiries,” a spokesperson for the watchdog said in an emailed statement, without giving further details.

Chris Ellison

Photographer: Trevor Collens/Australian Financial Review/Getty Images

The Australian Financial Review reportedASIC’s probe on Wednesday. The watchdog will look at whether the miner’s directors breached their duties, and require the company to hand over a report commissioned by the board to investigate the allegations, the newspaper said, without ...