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January 21st, 2015

UTC prevents loss of funds

 

January 20th 2015: In January 2013, during our routine compliance procedures, the Unit Trust Corporation discovered and prevented an attempt to defraud an institution of $50 million.

There was no loss of funds to the institution and the monies were fully recovered. Immediately following the detection of the fraudulent activity, we informed the financial institutions involved and law enforcement officials were notified.

We have been fully cooperating with law enforcement officials in their investigation and appreciate the significant efforts of the authorities in this matter.

The UTC employs rigorous processes and procedures designed to prevent fraud and we continue to seek to ensure that unit holders’ funds are safe and secure.


For further information, please contact:
Rory Rostant
Communications Manager
Tel: 624-8648 ext. 7020; mobile 685-7975
Email: rrostant@ttutc.com