19.11.2014 • News

AkzoNobel US Subsidiary Said Defrauded of €53 million

A US subsidiary of AkzoNobel based in Chicago has been been defrauded of up to €53 million, the Dutch chemical producer said, without providing details.

The company said it had taken immediate action to stop the fraud when detected and that it might be able to reduce the financial impact. An independent legal counsel assisted by an independent audit firm has been assigned to investigate the matter, it added.

AkzoNobel said the fraud appeared to be an isolated incident not linked to its operational activities. The company did not indicate whether any of its own employees were involved.

Innovation Pitch

Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.

Expert Insights

Comprehensive Insights into Antibody–Drug Conjugates

ADCs for Precision Cancer Therapy

Explore how antibody-drug conjugates are reshaping precision cancer therapy and discover what it takes to successfully develop, manufacture, and scale these complex biologics.