Ceylon Leather Products PLC says that it had received information of a fraud relating to off speck leather and scrap material sales at its Mattakkuliya Tannery during the financial period 2012 to 2014.

Following this information, an inquiry had initiated an inquiry and appropriate action taken against those responsible. Furthermore, an independent firm of Chartered Accountants was appointed to investigate into and quantify the losses and also to recommend further steps to prevent such incidents in future.

According to investigations, the losses during the financial period 2012 to 2014 amounted to Rs. 24,993,162.

Ceylon Leather Products PLC has also lodged a complaint with the Criminal Investigation Department (CID) and further investigations are currently being held.