Embezzlement of 35 million
The management of a construction company suspected that not all was right with one of their ongoing projects. Despite the project manager’s assurances that the housing association properties would be completed in time, there were many signs that this was not the case. The head office received phone calls from the supplier who had not had their invoices paid.
The management chose to hire 2Secure, who carried out a financial crime investigation to trace the flow of money within the project.
“We were looking for the answer as to why the project was making a loss and why it was delayed. We discovered a comprehensive system with noticeable transactions linked to the project manager.”
It showed that the project manager had used money from the construction project in an attempt to save his own company from bankruptcy. Before it was discovered, transactions totalling 35 million kronor had been made.
The result was that the supplier did not get paid, the construction project was so delayed that the people who had bought properties were without a place to live for quite some time.
With the help of 2Secure’s investigation, the construction company made a police report of the embezzlement and the breach of trust. The financial crime investigation, together with the proof, was submitted to the police, who acted quickly. The project manager was convicted and received a prison sentence.