State owned utility company Fenaka has concluded its internal investigation into the embezzlement of over USD1 million through an alleged fraudulent check.
Fenaka had released MVR17 million to purchase the equivalent sum in USD to a local speedboat firm Sharu Launch Services based on a dated check stamped by Mauritius Commercial Bank (MCB).
However, the check had bounced and Fenaka is yet to receive the money.
The company's managing director Ahmed Shareef told Avas on Tuesday that the confidential investigation has been completed but the report is yet to be submitted to the board.
"The board initiated internal probe to find the people responsible has been completed. But the report is yet to reach the board," Shareef explained.
"The board has also decided to conduct a financial loss assessment as result of the missing funds. Once that is done we will file lawsuits against everyone responsible to recover the money."
Fenaka has also filed a lawsuit against the speedboat company.
A senior official of Sharu Launch Services had been reportedly arrested in connection to the case.
