Corporate Travel warns of massive refunds, years-long fraud

Corporate Travel Management has confirmed it will have to refund up to $242 million to customers in the United Kingdom after a forensic audit found customers were overcharged and their funds were wrongly retained.

The embattled travel management company told investors it was still in discussions with customers to stagger the return of money as it continues to target restating its accounts and relisting on the ASX by June 30.

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