Investigators have launched a probe surrounding a major fraud scheme at Knox Community College’s main campus in Spalding, Clarendon.

According to reports, over $50 million has been defrauded from the institution which was discovered in the books from as early as last year December.

The report also outlined that since the discovery of the misappropriation, a few staff members have been sent on administrative leave pending the outcome of the probe.

In an official release, the school’s Principal Dr Davia Ramgeet outlined the irregularities involved in issuing false cheques under the school name. This was uncovered when an internal investigation was done.

“The discovery was prompted by a recent call from our bankers seeking to verify three cheques presented to them on the day; three cheques with numbers coinciding with the ones issued by the College but apparently altered to reflect greater amounts.

Subsequent internal checks revealed that the other cheque items had in fact been paid previously,” the statement read.

Dr Ramgeet also stated that the relevant authorities including the school’s Board of Governors, auditors, Deputy Commissioner of Police, The Ministry of Education and Youth, The General Secretary of The United Church, and the school’s bankers have been contacted to aid in the investigation.

Furthermore, contingency measures have also been put in place to ensure business continuity.