03.06.2019

Possible fraud at MacGregor

Hiab and Kalmar owner Cargotec has confirmed that the Finnish police are investigating a case of suspected aggravated fraud at its MacGregor division.

The fraud is said to involve the payment of suspect overseas invoices by employees of the company totalling €14 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.

Cargotec has said that it detected the suspected financial fraud during an internal review and made an investigation request to the Finnish authorities. It also added that the suspected misconduct does not have an impact on its financial result.

Its statement went on to say: “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. Neither MacGregor nor Cargotec are suspected of criminal actions.”