Federal authorities are investigating possible accounting irregularities at the former Venture Holdings LLC.
The probe focuses on activity between 1998 and 2002 and has nothing to do with current owners, who now operate the injection molding company under the name New Venture Holdings LLC, said Kirk Aubry, chief operating officer.
``New Venture Holdings is not the target of this or any other investigation, nor to our knowledge is any employee of New Venture,'' Aubry noted in a July 7 news release. ``We will cooperate 100 percent with any requests we receive from the U.S. Attorney's office.''
Former creditors of Venture took ownership of the auto supplier in May, setting up a headquarters in Sterling Heights. The firm had operated under Chapter 11 protection of the U.S. Bankruptcy Court in Detroit for two years before New Venture stepped in.
Fraser, Mich.-based Venture Holdings - a privately owned company founded by Larry Winget - was forced into bankruptcy following a move by German subsidiary Peguform GmbH to declare bankruptcy, cutting off the U.S. company from the bulk of its European income.