Corporate high flyer Peter Gregg faces four year sentence for falsifying Leighton Holdings accounts

The corporate regulator has scored a significant win after former Leighton Holdings chief financial officer Peter Gregg was found guilty of falsifying the company's accounts. 

The criminal case was brought by ASIC in relation to a probe over shady payments made to a consultant in Dubai for "market advisory services" which ASIC says was never a genuine agreement. 

ASIC commissioner John Price tells ABC's Peter Ryan that Mr Gregg faked accounts to cover up for payments.