Sign up for our newsletter ⟩
News |

Police: Capital area CFO pocketed nearly €900k over 7 years

The executive deposited the funds into his account for years and used them for his own purposes, according to police.

Kolikkokasaa nostetaan sormilla.
Authorities did not specify the name of the firm which employed the executive, but said it was a question of a large company. Image: Seppo Sarkkinen

A man who worked as the chief financial officer for a large company based in Kerava embezzled 886,500 euros from his employer, according to police in Eastern Uusimaa.

Police said that the man transferred company funds to his own account for a period of seven years. He is also suspected of failing to deliver the company's cash deposits to the bank. The crimes are suspected to have taken place from December 2012 to December 2019.

Authorities did not specify the name of the firm which employed the executive, but said it was a large company.

The man is also suspected of falsifying the company's accounting records, including bank statements, and used the stolen funds for his own purposes, according to the head investigator on the case, Inspector Marjo Aromaa of the Eastern Uusimaa police department.

"The falsified account statements eventually attracted the company's attention. A request for an investigation was filed with the police in June," Aromaa said.

A preliminary investigation also revealed that the CFO had opened an extra bank account in the company's name.

"If one person is responsible for a company's cash flow, it is possible that no one can control his or her activities," Aromaa said.

The case is now headed to prosecutors for consideration of charges. Police suspect the man of aggravated embezzlement. Police noted that the CFO is no longer employed by the firm.

Latest in: News

Headlines

Our picks

Latest

Muualla Yle.fi:ssä