A former advertising firm accountant who fled the Island with hundreds of thousands of misappropriated funds has agreed to settle with the company after legal action was started, The Royal Gazette has learned.

Aardvark Communications Ltd. filed a writ this month against former accountant and company shareholder Janelle Pickett-Wesch.

The writ - seeking to recover $230,000 in lost funds as well as legal costs - also named Ms Pickett-Wesch's husband Marcus.

Mrs. Pickett-Wesch left the Island last year and relocated with her family to Germany, The Royal Gazette was told.

An injunction to freeze the Wesch's overseas assets was filed by Aardvark's attorneys Appleby, Spurling and Kempe (AS&K) along with the writ.

Aardvark vice-president Ben Fairn said Mrs. Pickett-Wesch has responded to the writ with an offer to settle out of court and pay back the funds in question which the company intends to accept.