After the internal audit department of UK’s leading building materials retailer Jewson raised the alarm three weeks ago, police arrested Tony Newman, sales director, on suspicion of £1m fraud,.
However, no charges have been brought against Newman and Jewson said it was assisting the police with its continuing investigation, Director of Fincance Online reports.
The retailer confirmed in a statement its accountants reported irregularities relating to a possibly fraudulent supply and procurement of marketing services.
Jewson said Newman, who was based at the company's head office in Binley, Coventry, was dismissed on April 18 together with an unnamed member of staff who had been with the company for less than two weeks.
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