Internal investigation uncovers possible fraudulent activity – Britain’s Energy Coast CEO and Board to work with police to push for swift resolution
During a financial audit instigated by myself upon taking the role of CEO at Britain’s Energy Coast, a historical financial discrepancy was discovered. It is clear that BEC was the victim of internal fraudulent activity.
The results of this audit have now been turned over to the police, and thanks to the diligence of our independent auditors we believe we have been able to detect all instances of fraudulent activity quickly, allowing a strong case to be handed to the police.
BEC has played a vital role in our community by administering its funds, from both public and private sources, to projects that make a sustained and lasting difference to our region. As such we will not tolerate any financial discrepancies and we will be supporting the police in bringing swift resolution to this matter.
Following this revelation we are reviewing all financial security processes to ensure that the right level of safeguards are in place.
We wish to take this opportunity to thank our police service for their swift and professional action in this case and also to assure our clients that this activity will not have a negative impact on our operations. Our strategic review, announced at my appointment continues uninterrupted.
In line with usual procedure during police investigations we will be unable to make further public announcements on this matter until investigations advance. However, we will make further announcement as soon as we are allowed to do so.