The Police Service Fraud Squad is probing the disappearance of $16 million from the East Port of Spain Development Company (EPOS) - a body set up to help communities such as Beetham Estate and Sea Lots.

The operations of the company, chaired by Newman George, was examined by Parliament's Public Administration and Appropriations Committee (PAAC) on Wednesday.

PAAC Member, Clarence Rambharat, asked how it was possible for $16 million to go missing without being recognised by management.

EPOS Managing Director, Dr. Deborah Thomas-Austin, said investigations showed the disappearance took place over a period of a few years.

She blamed it on challenges of having just one person in its Finance Unit and said after irregularities were found in 2017, the EPOS had dismissed its former accountant.

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