Birmingham International Holdings have today announced to the Stock Market that a former employee may have misappropriated in excess of HK$30million (£2.55M) from the company since December 2013.

The announcement confirms that the former auditors of the company have missed the funds that have allegedly gone missing and that the company have reported the matter to the police. It doesn’t name the suspected employee – as it’s only an allegation I would expect that information will not emerge until someone is formally charged with an offence.

As you can imagine, the company are now conducting their own internal investigation into the matter. As this news could cause people to comment in a manner which could cause legal issues for this site, I am disabling comments on this piece. Furthermore I would like to make it clear that there is no one named in this allegation, and that no one is guilty of a crime until they are convicted in a court of law.

Tags: BIH, HKSE