Photo by: Bloomberg
PERTH (miningweekly.com) – The board of junior explorer Musgrave Minerals has called on the Western Australian police to investigate the alleged fraudulent misappropriation of A$466 000 in company funds.
The junior told shareholders on Friday that investigations into a number of irregular transactions reported in the company’s financial year statements for the period ended June 2014, had verified irregularities.
An employee was suspended in September, and his employment was subsequently terminated.
Musgrave said the irregularities had been brought to the attention of the major fraud squad, whose investigations were ongoing.
The company, meanwhile, was in discussions with its auditors, regarding the impact of the misappropriated funds on the company’s financial results for the year ended June 2014, and future periods.