Disgraced businessman Steve Vizard has returned his Order of Australia honour.
Vizard told News Limited he has written to the Governor-General's office to return the honour.
The former TV funnyman turned business executive was made a Member of the Order of Australia in 1997 for services to the community.
In 2005, he was fined $390,000 and banned from managing any corporation for 10 years for breaching his duty of care as a director of Telstra.
The civil charges were based on a statement of fact Vizard made following allegations he had improperly used information he gained as a Telstra director in his own share trading.
Vizard said he did not believe he had to hand back the honour.
"I did it because it is the right thing to do," Vizard told News Limited.
"This is partially out of respect for the order, to protect it, and partly to take this issue off the agenda for the order and myself."
Billionaire cardboard magnate Richard Pratt returned his Companion of the Order of Australia honour in February, after he was fined $36 million for price fixing.
ninemsn 6 May 2008
A figure of $3,000,000 was made from the Telstra fraud, and Vizard was fined $390,000.
A figure of only 13%. Better than tax, which would be approx 50%.
Pratt made approx $700 + million, and as fined $36 million. A fine of only 19%.
A worth while investment in anyones language. It pays to be part of the boys club.
The general media omits the fraudulent amount made in each case.
Looks like if you're good at fraud you get an Order of Australia.
Again the joke s at the expense of the public.
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