Dayen Environmental says the group’s former deputy chairman and executive director John Lee is currently under investigations by the Commercial Affairs Department (CAD) under the Securities and Futures Act.

Lee has also informed the company that a police bail of $30,000 has been posted.

The group says it has suspended the services of Lee from Jan 15 until further notice.

Lee had assumed the role of Business Development Director of Dowtec Private Limited, an associate company of the group, since his resignation from the group as deputy chairman and executive director in Oct 15 2009.

Dayen says the group has furnished relevant information and documents to CAD and will continue to cooperate fully with the department in its investigations.