Auction Finder
21 Aug 2018
Investigations into financial irregularity at Darlington auction mart
Darlington auction mart was running ‘business as usual’ despite investigations into financial irregularities.
Alex Black
Auctioneer and managing director Andrew Armstrong was suspended from his job at the end of July and was the subject of an internal investigation by the company which should be complete at the end of the month.
Investigations
Durham Police were investigating after shareholders made allegations about payments made to Mr Armstrong and financial director Richard Heseltine.
Almost the entire board of directors resigned at the weekend with chairman of the board Tony Ward stepping down.
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James Beadle, John Grieves, Eric Blacklock and Trevor Johnson have also retired their roles. Both Mr Armstrong and Mr Heseltine remain on the board.
New chairman Paul Allison said: “It is business as usual at Darlington mart and we are really pleased all the suppliers and buyers are supporting us.”
A Durham Constabulary spokeswoman said: “We are carrying out enquiries relating to allegations of financial irregularity at the Darlington Farmers Auction Mart. These enquires are in the very early stages.”
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