Avonmore Capital & Management Services updates on suspected fraud in operations of subsidiary

On 25 August 2014

Avonmore Capital & Management Services announced that one of the subsidiary Company namely, Almondz Insurance Brokers, has informed the Company that it has got a wholly owned subsidiary namely Almondz Reinsurance Brokers, wherein during the course of business it has detected a suspected fraud in the operation of the said Company by one of its key executive. An enquiry is being conducted to ascertain the quantum of possible consequences on the financials of the said Company.

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