Police are investigating alleged fraudulent activity by former Rowanmoor Pensions joint managing director David Seaton, who died in September.
Rowanmoor Pensions managing director Ian Hammond says following Seaton's death, the board conducted investigations into his business activities and uncovered fraudulent activity against a single client.
Hammond says the board reported the findings to the police and it is now subject to an investigation.
"We are confident that this was a one off issue and affects one client only," Hammond says.
"Rowanmoor is fully restoring the missing funds so there will be no loss to the client."
"Rowanmoor Pensions is financially strong and continues to run as normal."
Seaton's body was found on a Cornwall beach at the beginning of September, after he went missing for ten days.
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