Trust investigates branch office
Trust Company has initiated a review of all client accounts managed by its Townsville office after discovering irregularities in its books that could total several million dollars over a number of years.
Deloitte has been appointed as an independent forensic accountant to perform a full investigation into the matter. Police have also been informed and an investigation is underway.
Trust is continuing to work through the accounts. It is keeping its insurer fully informed of any issues arising from the investigation.
Trust managing director Jonathan Sweeney said: “First and foremost, our valued clients should rest assured that Trust will honour all its obligations to them. This isolated incident is regrettable, and the first of its kind in our long history of serving the Townsville community. Our ongoing commitment to this market remains steadfast, and we are making significant resources available to complete our investigation of this matter.”
Trust is contacting the clients of its Townsville office and will keep in “close communication” during the investigation, Sweeney said.
AUTHOR
Benjamin Levy
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