GARDAÍ HAVE begun an investigation into the alleged misappropriation of funds totalling more than €60,000 at the Cork Opera House.
Officers from the Garda Bureau of Fraud Investigation were contacted by management at the opera house last week after they became aware of financial discrepancies.
The discrepancies came to light when a staff member noticed a discrepancy in their payslip and alerted management who instigated an internal investigation, it is understood.
The alleged irregularities may have been going on at the theatre for up to a year.
Fraud squad detectives have begun examining financial records at the opera house and it is understood they have also sought bank account details for an individual.
The Irish Timeswas unable to contact management at Cork Opera House yesterday for a comment.
The investigation by the Garda comes on foot of a troubled year for the venue, which lost over €300,000 just a year after undergoing a major €2 million refurbishment.
The refurbishment, which involved the installation of new seating, was funded through capital grants from the Department of Arts, Sport and Tourism, Cork City Council and fundraising.
The discovery of the €300,000 loss came following a review of the theatre’s books for the year and led to a decision by management to close it for three months until September.
Cork City Council, which owns 39 per cent of shares in the venue, agreed to convert an outstanding loan balance of €857,073 to a non-repayable capital grant.
The loan conversion brought to some €2.7 million the amount of loans which the council has given to the theatre over the years which have been converted to non-repayable capital grants.