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Messages between two sacked Transport for NSW officials at the centre of a kickback scheme reveal they joked about how they would not get “busted” because they used cryptocurrency to conceal the cash benefits they pocketed from their improper dealings with road contractors.
In his tenth day in the Independent Commission Against Corruption witness box, former Transport official Ibrahim Helmy, 38, was grilled about the $413,000 worth of cryptocurrency held by him, and the equivalent of $8 million in cryptocurrency in a Binance account in the name of his sister, seized by ICAC officials before the inquiry commenced.
Sacked Transport for NSW official Ibrahim Helmy appears in the witness box at the ICAC inquiry.Credit: ICAC
In July, the inquiry heard evidence that Helmy allegedly regularly gave step-by-step instructions to road contractors about how to transfer cryptocurrency from their accounts to one he was the beneficiary of.
Helmy denied the proposition made by ICAC counsel assisting Rob Ranken, SC, that he favoured cryptocurrency as a cover for kickbacks because he could pretend the large amounts of cash he pocketed were legitimately earned through cryptocurrency investments.
A 2021 text exchange with Helmy’s alleged right-hand man, Transport for NSW officer Peter Le, was aired at the inquiry, in which Helmy said: “We have an alibi … Crypto. We can always say we got rich off it.”
“Yeah that’s true hahaha it’s so hard to track. Heaps of ppl getting rich off crypto,” Le responded.
Cash seized as part of the investigation into former Transport for NSW official Ibrahim Helmy.Credit: ICAC
The pair also discussed the ICAC’s 2021 investigation into corrupt conduct by former Roads and Maritime Services employees who ran a decade-long kickback scheme that awarded millions in contracts in return for lavish kickbacks such as luxury cars, cash, jewellery, school fees and international flights.
Text messages between Helmy and Le shown to the inquiry revealed the pair called the RMS officials found guilty of corrupt conduct by ICAC “idiots” for brandishing displays of unexplained wealth.
“They bought a luxury car. Everyone knows u don’t buy luxury cars … Gotta look poor!” Helmy said.
“That seems to be the catalyst to get busted. They should drive a car like yours or mine. Idiots,” Le replied.
The ICAC is investigating allegations that Helmy was the mastermind behind corrupt relationships with nine companies that were paid at least $343 million in Transport for NSW contracts in exchange for kickbacks.
He is accused of receiving $11.5 million in kickbacks – including cash, gold bullion and cryptocurrency – from the contractors in return for their being awarded work on the state’s roads.
Before he was suspended in September last year and later sacked, Helmy was responsible for Transport for NSW’s traffic control panel, which involved managing relationships between contractors and engineers, and dealing with payment claims.
The inquiry also heard the details of Helmy’s improper dealings with asphalt paving company Avijohn Contracting, which resulted in it being awarded contracts worth $17 million between 2019 and 2025.
Helmy would allegedly manipulate the tender process with help from Le, so their favoured contractor would be more likely to be awarded work. In return, the pair would be paid a 1 to 3 per cent cut of Avijohn’s contracts, the inquiry heard.
Helmy admitted to the inquiry that he and Le pocketed at least $20,000 in cash kickbacks each from Avijohn’s director Michael Kennedy.
Text messages shown to the inquiry on Friday revealed the two arranged routine meetings with Kennedy for the purpose of receiving kickbacks.
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On September 19, 2020, Helmy messaged Le, “I’ll go on a debt collection trip lol.”
“Next time we meet with Michael I need you to interrogate him about his capacity to pay us. I couldn’t do it cos yeah didn’t wanna piss him off lol,” Le replied, to which Helmy responded, “Yeah he needs to pay up haha … We’ll meet up and make him pay lunch.”
After four months on the run this year, US-born Helmy was found by detectives hiding in a cupboard in a unit block in Lakemba in south-western Sydney on September 26. He was taken into custody, where he remains, apart from his appearances at the ICAC inquiry.
On top of cryptocurrency, ICAC investigators also seized a Maserati, gold bullion bars and nuggets, and $12,317 in cash at his Merrylands home.
The public inquiry into the kickbacks is part of an ICAC investigation known as Operation Wyvern, and is the fourth into corruption in procurement processes at Transport for NSW since 2019.
Helmy is due to reappear on Monday.
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