THE Bahamas Agricultural and Industrial Corporation has shot down rumours that $150,000 was stolen from the corporation, saying the allegation is a "bold-faced lie".

"We wish to emphatically state that the allegation is a bold-faced lie and without any foundation or merit," BAIC noted in a press release.

"It saddens us that a person or persons are prepared to go to great lengths to create and cause mischief regarding the corporation and to purposefully, intentionally and without any basis at all, malign the employees of the corporation, the executive chairman and board members of the corporation and the entity itself, especially regarding a serious criminal allegation.

"The corporation does not take lightly the criminal allegation made against it. We ask the person or persons responsible to desist forthwith, and we totally reject all such allegations."

Earlier this week, local website Bahamas Press claimed $150,000 was "missing" from BAIC's farmer's market but did not provide any proof. The website alleged "the profit and loss paperwork" had failed to be handed over to the minister responsible.