Insurance firm accuses ex-manager of misappropriating €41,348

An insurance company has filed a court application against a former employee claiming he had misappropriated €41,348 (Lm17,751) in cash from the company.

Rausi Insurance Agency Limited filed the application in the First Hall of the Civil Court against former marine insurance manager Malcolm Ellul.

The company said that when it suspected that Mr Ellul was misappropriating cash on receiving payment from clients, it appointed accounting firms CMP Limited and PricewaterhouseCoopers to look into the matter. Both firms concluded that between January 1, 2007, and July 31, 2007 Mr Ellul had failed to pass on €41,348 in cash to the company.

The company called on the court to order Mr Ellul to pay back the money he had taken.

In a separate court application filed against Mr Ellul and his present employers Mediterranean Insurance Brokers Ltd, Rausi Insurance claimed that, after joining his new employer, Mr Ellul had systematically phoned Rausi Insurance's marine clients saying that Rausi Insurance had closed down and tried to entice clients by offering them new marine insurance cover.

Rausi Insurance also complained that Mr Ellul had stolen their client database and other confidential information it contained. It asked the court to order Mr Ellul and Mediterranean Insurance Brokers Ltd to refrain from contacting their customers and to return any information taken from the company.

Lawyer Joseph Schembri signed the protests.