The management of Stocks and Securities Limited (SSL) has called in the police to probe what is believed to be massive fraudulent activites carried out by a former employee at the company.

In a statement on Thursday, SSL indicated that the matter has been referred to the police. The company did not reveal details surrounding the amount of money defrauded.

OBSERVER ONLINE sources say several million dollars might have been siphoned off by the employee who has since been fired.

According to SSL, following initial internal investigations, it has referred the matter to the relevant law enforcement authorities to facilitate a thorough and complete examination of all aspects of the matter.

“Safeguarding client assets is of the utmost importance to SSL. To ensure this, we have implemented several additional internal measures and procedures to secure those assets and detect suspicious activity,” said the company.

“SSL will continue to liaise and cooperate fully with law enforcement throughout this investigation,” the company added.

Arthur Hall