Housebuilder Barratt Developments’ London boss arrested

A SENIOR executive at Barratt Developments has been suspended after being arrested over possible misdemeanors in awarding contracts for new housing developments.

Alastair Baird, the housebuilding giant’s London regional managing director, was arrested with a former Barratt employee by the Metropolitan Police this morning (Wednesday).

The latest development follows a referral in April by the listed firm to the Met of the initial findings of an internal investigation which dates back to August 2015.

The investigation came about after an internal audit and was tasked with uncovering “possible misconduct in the process for awarding and managing certain material and sub-contract supply contracts in London”.

The investigation led to a civil case against a former employee in October 2015.

Afterwards, Barratt said that it hired an accountancy firm to scrutinise the tendering and procurement processes in its London business. It now procures contracts in London in a different want to the rest of the UK operations.

David Thomas, chief executive of Barratt Developments, said: “We are committed to meeting the highest ethical standards in all aspects of our business. We have acted decisively, launching our own thorough and comprehensive investigation and referring the matter to the Metropolitan Police.

“We will continue to cooperate fully with the Metropolitan Police and to conduct our own investigation into these matters. We will take whatever action is required to ensure our values and standards are upheld.”

 

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