ValueMax files police report against outlet employee on probable case of criminal breach

SINGAPORE (Aug 21): ValueMax Group says it has, through an internal review, discovered a probable case of criminal breach of trust by an outlet employee and subsequently filed a police report on Aug 17.

In a regulatory filing on Monday, the pawnshop chain operator says the net amount of loss the group, after insurance, is anticipated to be less than $10,000 – and therefore it is not expected to have a material impact on the company’s financials.

The case is isolated to the best of the company’s knowledge and none of the pledged items at the outlet were affected, it adds.

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