StockMarketWire.com - Solar power investor US Solar Fund said it expected it to take 'some months' for a recovery processes related to a $6.9m fraud against the company to be completed.

In January, US Solar Fund said its investment manager, New Energy Solar Manager, was defrauded in relation to contracted construction payments.

'The board continues to work with the investment manager and relevant stakeholders to ensure the company is made whole, by recovering the remaining funds or otherwise,' the company said on Friday.

'As is normal in such circumstances, the recovery process itself is not expected to be complete for some months.'

A review was currently being conducted by the investment manager of its financial processes and controls and was expected to be completed in March.

'There continues to be no impact to the relevant construction schedules or budgets,' the company said.



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