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Norfolk Police has begun an investigation into a £1.9m fraud alleged to have taken place at Bertrams.
The Norwich-based wholesaler originally revealed it had discovered an employee had been “fraudulently controlling” a customer account in its interim financial results in April this year. Last week, Bertrams said its insurers had agreed to pay the £1.9m loss, minus a deductible sum of £65,000.
Graeme Underhill, m.d. of Bertrams, said: “Obviously I am happy about this, it is a huge sum of money for any company to bear. The Serious Fraud Office originally looking into it finished with its investigation and then passed it on to [the] police. We have given statements to the police and now it is up to them.”
Norfolk Police said enquiries were at an early stage and it had not yet made any arrests. A spokesman said: “We can confirm that officers from the Economic Crime Unit are investigating an allegation of fraud at Bertram Books in Norwich. The investigation is its early stages and no further details will be released at this time.”