PVS-Studio warning V611 for Miranda IM

void TSAPI LoadFavoritesAndRecent()
{
  ....
  recentEntries = new RCENTRY[nen_options.wMaxRecent + 1];
  if (recentEntries != NULL) {
    ....
    if (iIndex == 0) {
      free(recentEntries);
      return;
    }
  ....
}

This suspicious code was found in Miranda IM project by PVS-Studio static code analyzer.
Warning message is:
V611 The memory was allocated using 'new' operator but was released using the 'free' function. Consider inspecting operation logics behind the 'recentEntries' variable. trayicon.cpp 355

PVS-Studio is a static analyzer for detecting bugs in the source code of applications written in C, C++, C++11, C++/CX. Site: http://www.viva64.com/en/pvs-studio/