Air France-KLM was formally put under investigation by authorities for suspected misappropriation of funds at security firm Pretory which worked with the French-Dutch airline, according to Reuters news agency. Air France-KLM on Friday confirmed press reports to Reuters about the probe, which came two days after its Chief Executive, Jean-Cyril Spinetta, was questioned in the case.

Spinetta was not placed under formal investigation, an Air France-KLM spokeswoman said.

Spinetta’s lawyer, Jean-Pierre Versini-Campinchi, has said that his client has denied any role in the affair.

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