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Mainfreight calls in police over misappropriations

Wednesday, 9 October 2013, 5:25 pm
Article: BusinessDesk

Mainfreight calls in police over misappropriations at Daily Freight unit

Oct. 9 (BusinessDesk) – Mainfreight, the transport and logistics group, said it has uncovered misappropriation by a credit controller at its Daily Freight (1994) subsidiary and referred the matter to the police.

The amount involved isn’t material to Mainfreight, according to a brief statement to the NZX from managing director Don Braid. The matter was uncovered during an internal examination of the New Zealand freight forwarding business.

“Evidence gathered in the course of the investigation has been passed to the NZ Police and prosecution is under way,” the company said. “The matter is sub judice.”

Daily Freight's control systems have since been reviewed and tightened, it said.

Shares of Mainfreight fell 0.4 percent to $11.55.

(BusinessDesk)

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