The chief executive of cosmetics maker Phosphagenics has resigned as the company investigates apparent irregularities in its financial accounts.
Phosphagenics' board suspended Esra Ogru on July 1, after it discovered apparent irregular transactions in the company's invoicing and accounting records.
Ms Ogru had now handed in her resignation, effective from last week, the company said on Monday.
The company makes several anti-ageing and body sculpting products, and is working on creams and patches that could deliver insulin, pain relief, and anti-acne treatments.
Independent lawyers and accountants investigating the company's accounts are expected to hand over their findings to the company on Tuesday.
Those findings will then be released to the market on Wednesday, Phosphagenics said.
The company's New York-based executive director and joint chief executive Harry Rosen has taken over as sole CEO since Ms Ogru was stood down.
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