The employee was immediately dismissed and a police report was lodged, with the case still under investigation.
Furniture ODM manufacturer and brand owner Koda (SGX:BJZ
) has completed the first phase of its independent review of the $263,000 allegedly misappropriated by an employee of its wholly-owned subsidiary, Commune Lifestyle.
On Nov 1, the company announced it had discovered fraudulent behaviour by an employee in the IT department of Commune Lifestyle. According to Koda, the employee, who was an administrator for the subsidiary’s payment gateway system, made unauthorised changes to the system such that monies received from transactions were deposited into the employee’s own personal account.
