EXCLUSIVE: States lends £400,000 to Jersey firm... but where's the cash?
A government whistleblower has told ITV News a company, which received a £400,000 loan from Jersey States, may have disappeared.
The money was handed out by the Jersey Innovation Fund, set up to boost the economy by providing funding and support to entrepreneurs, start-ups, and established organisations with innovative investment.
There's no sign of the company in question, Logfiller Limited, at its registered address.
Meanwhile, Digital Jersey say the firm is no longer one of its members, and that it believes the company has moved out of the island.
The government's spending watchdog is now demanding evidence that proper checks and balances are in place before the fund gives out money.
Senator Philip Ozouf confirmed to ITV News that, last year, he commissioned a report to look at the state of innovation in the island and one of its recommendations was a review of the Jersey Innovation Fund.
Following our report, Senator Ozouf revealed that review is now underway.