Wednesday, February 19th 2020 1PM °C nicosia
02-09-2019 14:47 | Read 656 times

Manager suspended

THE head of a cooperative has been suspended from his post amid allegations of corruption, it was announced on last Monday.

Manager suspended

Members of the Lefkoşa İktisat Cooperative (Lİ-Koop) executive board made the announcement at a press conference they organised following speculation in the media.

Lİ-Koop chairman Memduh Çeto said the cooperative manager, whose name was not disclosed, had been suspended by the Office of the Registrar of Companies and a dossier against him handed to the police.

Explaining that between 1970 and 2016 auditors had found “nothing irregular” in the accounts and transactions at Lİ-Koop, which functions as a bank, Mr Çeto said the current executive board had been appointed eight months ago and that suspicious transactions reported by local media had taken place in July.

Following a meeting on August 19 between Mr Çeto, board members, accountants and computer programmers, the decision was taken to revoke the manager’s powers of authorisation and his access to its computer database. Accounts held solely and jointly in his name were also blocked, Mr Çeto added.

The Office of the Registrar of Companies was informed of the situation in writing on August 20, Mr Çeto said, with a request that Lİ-Koop be “re-inspected” and legal proceedings launched.

Read the full article in Cyprus Today...In shops or on PressReader.

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