Whereabouts unknown of Ibrahim Helmy at the centre of ICAC inquiry into transport kickbacks

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4 hours ago

The alleged mastermind accused of rigging the awarding of $343 million in transport contracts is not expected to testify at a corruption inquiry as authorities don't know his whereabouts.
At a hearing in Sydney on Monday, Counsel assisting the Independent Commission Against Corruption (ICAC), Rob Ranken, outlined allegations former Transport for NSW (TfNSW) employee Ibrahim Helmy received more than $11.5 million in corrupt rewards and benefits, including cryptocurrency, gold and cash payments.
Mr Helmy arranged for four colleagues to ensure businesses he had corrupt relationships with would be awarded contract work valued from $12 million to $99 million, Mr Rankin alleged.
Operation Wyvern — the fourth public inquiry into TfNSW since 2019 — has been investigating allegations of corrupt conduct since February last year in the arm responsible for building and maintaining the road network, Mr Ranken said.
"In each of the previous investigations, [different] TfNSW officials were found to have manipulated procurements and/or contract management processes for corrupt benefit," he said in his opening statement.
"We expect the evidence is likely to establish that also to be the case in this investigation."
The corruption watchdog's investigation centres on Mr Helmy, who worked at TfNSW in different roles for 15 years until his employment was terminated in February, but encompasses a network of almost two dozen people.
The ICAC has heard Mr Helmy allegedly took a series of corrupt actions to rig the process in which $343,139,770 in work contracts was awarded for roadworks from 2012 to 2025, so that businesses he allegedly had private dealings with would secure work.
In exchange, Mr Ranken said the 38-year-old from Merrylands would be paid large sums of cash, cryptocurrency, gold and other valuables worth $11.5 million — some of it allegedly "cleaned" in bank accounts belonging to a friend.
The inquiry heard the corruption allegations against Mr Helmy include stacking the panels responsible for awarding contracts for roadworks with people who would help the at least nine businesses that would allegedly pay him kickbacks.
He also allegedly helped some of these businesses write their tenders, shared their competitors pricing with them and adjusted the rates in their competitor's submissions.
He is also accused of helping the contractors he partnered with inflate their rates to make the scheme more lucrative, for both himself and the contractors.
The ICAC said Mr Helmy targeted smaller businesses and allegedly courted their participation.
Under the arrangement, counsel assisting said one business was awarded $99 million in work from April 2020 to September 2024.
The ICAC also said Mr Helmy's alleged corrupt conduct helped secure work contracts for eight other companies between 2012 and this year.
Mr Ranken said directors of some of the companies allegedly involved are expected to give evidence at the hearing.
Authorities do not know the exact whereabouts of Mr Helmy, but believe he is still in the state.
He was interviewed by the ICAC in September, but his compulsory examination was only part-heard.
The inquiry heard that on December 22 last year, the ICAC was alerted he was at Sydney International Airport trying to depart to Shanghai on a US passport in his name, as his Australian passport was at the time held by the ICAC.
"A family member has told the commission that Mr Helmy took the rubbish out on a Sunday night and did not return," Mr Ranken told the hearing.
"The family has not reported him missing."
NSW Police have issued a warrant for Mr Helmy's arrest after allegedly failing to appear before ICAC.
Mr Ranken said ICAC officers, working with NSW Crime Commission and NSW Police, searched a number of properties on September 10, 2024.
From Mr Helmy's properties, they allegedly seized $12,317 in cash, three red bags containing 20 gold bullion nuggets of 1 ounce, 12 bars of silver each weighing 1 kilogram, three 1 ounce platinum bars, five 1 ounce gold bullion bars and nine 100 gram gold bullion bars.
The inquiry heard the Crime Commission also seized $413,000 worth of cryptocurrency held by Mr Helmy and $8 million in cryptocurrency from an account in an associate's name.
Counsel assisting told the inquiry four other employees of Transport for NSW allegedly helped Mr Helmy award contracts to businesses with which he had dealings.
All four colleagues allegedly received a financial benefit for helping Mr Helmy.
At times, Counsel Assisting Mr Ranken had to refer to a chart to help explain the alleged corruption.
"It is anticipated evidence will show that TfNSW failed to recognise red flags for corrupt conduct," he told the hearing.
"This included an inadequate response to a report from a TfNSW employee alleging improper influence by Mr Helmy, which meant his scheme was not uncovered at that time.
"It is of notable concern that the referral to the Commission which ultimately led to this investigation was received from a party external to TfNSW."
The hearings are expected to continue for several weeks.
No criminal charges have been laid in connection with the matters under investigation.