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Rowanmoor fraud following Seaton's death
Rowanmoor Pensions has informed police that his identified suspected fraudulent activity on a client account with which former managing director David Seaton had some involvement.
The news comes just months after Devon & Cornwall police confirmed that Seaton's body was found on a Cornish beach following rumours that he had been attempting to defraud the company.
Today, Ian Hammond, managing director of Rowanmoor Pensions said that the board began an internal investigation into Seaton's business activities after his death and admitted that there was some evidence to suggest criminal activity.
He explained, 'This was reported to the police by the Board and is now subject to police investigation. As a result, we are unable to discuss details of the case at this stage.
'We are confident that this was a one off issue and affects one client only. Rowanmoor is fully restoring the missing funds so there will be no loss to the client.'
The company added that this latest development will have no impact on its clients whatsoever and noted that the business remains financially strong and continues to run as normal.
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