Former Abano employee arrested for fraud

Company Announcement
Former Abano employee arrested for fraud

The Serious Fraud Office has advised that it has arrested and charged a former employee of Abano Healthcare Group for fraud.

As previously announced, during an internal control review in early November 2005, management at Abano discovered that the long standing and trusted employee had committed fraud against the Group’s rehabilitation business. Following this discovery, the employee was instantly dismissed.

The police were informed and have now arrested the employee and laid charges.

Managing director of Abano Healthcare Group, Mr Alan Clarke, commented: “This fraud was committed over the past six years, with an annual net impact to the company of approximately $77,000 a year.

“As the majority of the fraud was committed in prior periods, there was no impact on the company’s recent interim result, or future results.

“Abano has now undertaken a full audit of the Group’s financial statements and controls, and has implemented new accounting and audit procedures to prevent such an incident happening again.”

No further comment can be made at this stage, as the matter will now be before the courts.

For more information, please contact:

Mr Richard Keys
Chief Financial Officer
Abano Healthcare Group
Tel: 09 361 0352 or mob: 025 818368