Forensic accountants are investigating irregularities at the London Development Agency after discovering a £100m hole in its 2012 Olympics accounts, according to The Times.
A team from KPMG has been called in to find the source of the discrepancy, which was unearthed during a routine audit.
Two senior members of staff at the agency, which is the Mayor of London’s economic and business unit, have been suspended, although there is no evidence of wrongdoing. Gareth Blacker, who was in charge of buying the land on the Olympic park under the biggest and most controversial forced relocation conducted in Britain, is on indefinite leave along with his accountant.
His department, the Olympic Legacy Directorate, is the focus of the KPMG investigation, which found that the agency failed to make provision for between £60 million and £100 million to compensate the businesses that were forced out of the Olympic site in Stratford, East London.
The Times
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