NI Events scandal rolls on

The Northern Ireland Events Company (NIEC) is accused of presiding over a financial fiasco including falsified records.

The Public Accounts Committee (PAC) is examining its demise after an auditors’ report found its CEO covered up losses with misleading and sometimes fabricated records while racking up debts of almost £1.5 million.

The publicly-funded body tasked with attracting star performers like Sir Elton John lost £400,000 promoting two motocross events. In response, it sought £200,000 extra borrowing.

Chairman Mervyn Elder told the committee he was not aware that the £200,000 overdraft was given the go ahead in November 2005 without a board meeting.

Four board members and the chairman had supposedly approved the measure.

Investigators examined whether Mr Elder’s signature was on the overdraft approval letter “falsely” submitted to the overseeing Department of Culture, Arts and Leisure (DCAL).

The department said: “Following the PAC hearing, we have verified that a signature reading SM Elder is on the second overdraft approval letter.

“However, the company inspectors, working with forensic accountants and forensic technology specialists, have determined that the signature is considerably different when compared with the signature on the resolution for the first overdraft.”

Company inspectors were appointed by the Department of Enterprise, Trade and Investment to investigate the affairs of the events company.