Fifth person arrested in Police Credit Union Fraud

BASSETERRE, St. Kitts - POLICE have taken another person into custody in connection with the mulit-million dollar fraud scheme at the Police Cooperative Credit Union.
  
The fifth individual, a male SKNVibes understands, was taken into police custody over the weekend as the probe into the fraud case continues.
 
This followed police arresting four individuals on Thursday (Oct. 1) in relation to the same probe.
 
SKNVibes News will not release the identity of the latest individual until the police do so.
 
However, this media house has learned that the five individuals have been charged in connection with over EC$7M were missing for just over a year.
 
“Five persons have been charged in the Police Cooperative Union matter. They are currently in Police custody,” police told reporters this morning (Oct. 5).
 
This comes as monies have been reported missing and several persons complaining of the monies they received and the amounts they were forced to repay.
 
According to reports, a reputable financial institution was called in to conduct an audit following the discrepancies.  
 
Police are expected to issue a statement on the arrest later today.