Port of Spain Development Company says $16M paid to unauthorized vendor

Date: 
Tuesday, December 12, 2017 - 13:15

16 million dollars in unauthorized payments over a 3 year period. 

The east Port of Spain development company says it has uncovered a scheme that saw the millions being paid to an unauthorized vendor who was affiliated with an employee of the company.

 In a media release today, the company says last month the EPOS engaged an independent firm to conduct an investigation based on a report from management. 

It says preliminary findings unearthed the unauthorized vendor, forged cheques and the concealment of relevant records by employees between 2014 and 2017. 

The release says a report was made to the fraud squad and civil action is ongoing to recover the monies that were misappropriated.

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