An investigation into whistleblower claims against the National Reconstruction Fund Corporation has raised concerns over the organisation's workplace culture and approach to document management, but cleared it of any serious misconduct.
The Albanese government's flagship $15 billion manufacturing fund was the subject of a formal Public Interest Disclosure investigation after an anonymous whistleblower made serious allegations about governance failures and workplace culture in March 2025.
David Gall, the fund's chief executive, announced the conclusion of the investigation in a letter seen by Capital Brief, finding that while some procedural issues occurred, none constituted "serious disclosable conduct" under the Public Interest Disclosure Act.
The investigation, conducted with assistance from the law firm Clayton Utz and the consultancy KPMG, examined 10 separate allegations covering Freedom of Information handling, recruitment processes, workplace complaints and conflicts of interest. Of the 10 allegations, investigators found evidence to support only limited aspects of two claims while eight were dismissed for failing to meet the threshold for serious misconduct.
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