MONTEGO BAY, St James – The Area One Fraud Squad has confirmed that it has been called in to investigate a case of fraud, which sources say amounts to about $3 million in misappropriated funds at Novelty Trading Company here in Montego Bay.

“The investigation is still at a delicate stage so we cannot really divulge much,” an officer close to the investigation told the Observer. He said the police were called in after the company closed its Union Street offices and fired all its employees just over a week ago.

Yesterday, proprietor Suzanne Lee said it was rather unfortunate that the company had been forced to employ such drastic measures.

“I have no comment, except to say that I think it is really sad what our country has come to,” Lee told the Observer from the company’s head office in Kingston.

Lee declined to comment on the total loss the company had suffered. “We really are a private company, so I am not at liberty to speak about our funds,” she said.

She hinted that her company was not the only one which had been forced to close down distribution outlets outside of their head offices, due to misappropriation of funds and stock.

“Everybody is getting it,” she said.

“I know of companies smaller than mine and larger than mine that have had to close down their distribution operations in other parishes,” said Lee.