Auditors to provide update on multimillion-dollar JTA fraud
The Jamaica Teachers’ Association (JTA) is expecting a comprehensive update from its auditors today on their investigation into a multimillion-dollar fraud at the organisation.
Almost three weeks ago, the auditors discovered that almost $100 million had been stolen from the teachers union.
Since then, the entire staff of the accounts department has been sent on paid leave to facilitate the investigation.
Immediate past president Paul Adams, told The Gleaner/Power 106 New Centre that today’s update from the auditors will be critical to an emergency meeting involving top executives scheduled for tomorrow.
It is understood that the multimillion-dollar fraud was undertaken during the past financial year and involved cheques with fraudulent signatures being prepared for the payment of fictitious claims.
The Police Fraud Squad which has been probing the matter since July 25, says it is making progress.
The police say several statements have been taken and experts have been called in to join the probe.
The teachers’ union has confirmed that attempts were made to fire bomb a section of the building being used by the auditors.
The union, which represents more than 24,000 teachers, has declared that the fraud does not involve the JTA Cooperative Credit Union.
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