MORE fraudulent transactions have been discovered at listed property developers Safeland.
Another £265,000 in fraudulent transactions have been discovered at Safeland, taking the total of misappropriated funds to more than £1.5m.
The developer is in the midst recovering £700,000 of the funds. "The company continues to trade in the usual way, despite the events disclosed in this announcement," it said in a statement to the stock exchange.
Auditors Baker Tilly quit the role soon after the discovery of the initial lost funds due to "an unmanageable conflict of interest". A replacement has yet to be named.
Its share price fell 1.5p in this morning's trading, to 5.25p.
For more companies and markets data, visit the Share Price Centre
You may also like
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources.