AN investigation has been launched into allegations the co-managing director of a Salisbury pensions firm, who was found dead in September, defrauded his company of £1.6million.

David Seaton, 57, of Rowanmoor Pensions, went missing at the end of August and was found dead on a beach near Bude, north Cornwall, on September 1.

Wiltshire Police have now confirmed they are conducting a fraud investigation into allegations Mr Seaton defrauded the company.

Ian Hammond, Rowanmoor managing director, told a financial newspaper the company is aware of a possible fraud committed by Mr Seaton but said he is unable to discuss the case at this stage.

However, he said the company is confident that no client will be disadvantaged.

Mr Seaton, who lived in Winterbourne Stoke, trained as an accountant and worked for a City firm of financial advisers before joining James Hay Pensions Trustees in 1993.

Rowanmoor Pensions was formed out of a management buy-out of James Hay Consultancy by Mr Seaton and Mr Hammond in 2006.

Described by his son Alex, 25, as ‘the hardest working and most driven person’, Mr Seaton was last seen by colleagues at the company’s Salisbury office on August 24.

Police found his car parked in Boscastle, north Cornwall, shortly afterwards and his body was discovered days later by a dog walker on Warren Gutter beach, near Kilkhampton.