The construction of a conference centre and hotel which opened in Birmingham in 2021 is being investigated by the Serious Fraud Office, trade union Unite says.
The Eastside Rooms, in Woodcock Street, was developed and is owned and operated by Unite and cost £112 million of members' money to build.
The complex, which contains a 195-bedroom hotel, 23 meeting and event rooms, a ballroom for hire and offices for Unite staff, has since been valued at £29 million.
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Unite said the case was now with the SFO and that its general secretary Sharon Graham would "leave no stone unturned" in uncovering whether any wrongdoing had taken place.
The Serious Fraud Office said in response to other media inquiries: "In line with long-established practice to avoid prejudice to law enforcement activity, we can neither confirm nor deny any investigation into this matter."
BusinessLive has also approached the SFO for comment.
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Shortly after taking over as general secretary in 2021, Ms Graham announced a KC-led inquiry after it emerged the value of The Eastside Rooms was much lower than what it cost to build.
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In 2022, South Wales Police searched the union's London headquarters as part of a separate bribery, money-laundering and fraud investigation which is ongoing.
A statement from Unite said: "General secretary Sharon Graham has been subject to three years of sickening and horrendous attacks since she commissioned independent, KC-led inquiries into the Birmingham hotel project and further inquiries into the union's affiliated services.
"(This) has been handed to the Serious Fraud Office and independent forensic reports into the union's affiliated services….are currently part of an investigation by South Wales Police.
"We are limited in what we can say at the moment due to the police investigations but will be issuing an interim report into the findings of the reports.
"Ms Graham has kept her promise to 'leave no stone unturned' in uncovering any wrongdoing that took place prior to her election.
"Unite is currently pursuing legal claims to recover money lost to the union and the general secretary has put safeguards in place to ensure that such things can never happen again."