Audit finds $1.1M missing from Kingman account

Posted at 10:20 AM, Dec 10, 2015
and last updated 2015-12-10 12:20:10-05

An internal audit has found that more than $1.1 million was taken from a city bank account over a period of eight years, not $300,000 as previously suspected.

The Kingman Daily Miner reports that a city budget analyst has been fired as the theft is investigated. She was originally accused of taking the smaller sum on Nov. 16.

The audit shows that more than $1.1 million went missing from the Employee's Benefit Trust Account beginning in 2007, earlier than previously thought.

The city's insurance against employee theft has a $500,000 cap.

The analyst has not been formally charged, but faces potential charges of fraudulent schemes, computer tampering, money laundering and theft. She is reportedly cooperating with investigators.