Barratt Said to Suspend Staff as Contract Probe Continuesby
Barratt Developments Plc suspended at least three more employees within its London business as part of an ongoing probe into potential misconduct in the awarding of contracts, according to two people familiar with the decision.
The people asked not to be named because a police investigation is ongoing. The suspensions follow that of London regional managing director Alastair Baird, who was arrested in October. He was released on bail until April, along with a 47-year-old woman, according to a Metropolitan Police spokesman, who was unable to immediately respond to a request for comment.
It would be inappropriate for Barratt to comment while the Metropolitan Police and internal investigations are ongoing, a spokesman for Barratt said in an e-mail. Baird did not reply to phone calls and an e-mail seeking comment.
The home builder “acted decisively,” launching its own investigation and referring the matter to the police, Chief Executive Officer David Thomas said in an Oct. 19 statement following Baird’s arrest.
The shares reversed earlier gains, falling as much as 2.4 percent, the lowest since Jan. 4. Barratt was trading at 484 pence at 3:42 p.m. in London trading.