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Finnish police looking into possible fraud at Cargotec's MacGregor

CARGOTEC has confirmed that Finland's National Bureau of Investigation is investigating a case of suspected aggravated fraud at its MacGregor division

Finnish police looking into possible fraud at Cargotec's MacGregor

CARGOTEC has confirmed that Finland's National Bureau of Investigation is investigating a case of suspected aggravated fraud at its MacGregor division

04 June 2019 - 19:00

CARGOTEC has confirmed that Finland's National Bureau of Investigation is investigating a case of suspected aggravated fraud at its MacGregor division.

In a statement, Cargotec said it detected the suspected financial fraud during an internal review and made an investigation request to the Finnish authorities.



Although the company statement didn't provide details of the fraud, a report in Vertikal.net of Brackley, UK, said the fraud is said to involve the payment of suspect overseas invoices by employees of the company totalling EUR14 million (US$15.8 million). No more than five employees are involved in the investigation, one of which is said to have been held in detention for a period, the report added.



The company stressed that the suspected misconduct does not have an impact on Cargotec's financial result. It also said that neither MacGregor or Cargotec are suspected of criminal actions.



'Cargotec has a zero tolerance policy for misconduct, and is fully supporting the authorities in their investigations. Due to the incompleteness of the preliminary investigation, no further information will be issued at this point.'


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