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Mount Olive schools say bank, police helped recover nearly all of $257,000 in wire fraud; district updates controls
Summary
District officials told the board that a vendor email compromise led to a $257,000 fraudulent disbursement; Valley Bank and the Mount Olive Police Department froze the account and the district received a certified check for $255,000 while it pursues the remaining roughly $2,000 from the vendor's insurer.
The Mount Olive Township Board of Education was told a vendor email account was compromised and an unauthorized $257,000 disbursement was processed; district and law‑enforcement partners recovered most of the money.
An administrator speaking to the board described steps taken after staff discovered the irregular payment. "The disbursement was $257,000. We received the check today for $255,000," the administrator said, adding the district will pursue the vendor's insurance for the balance.
Board member Miss Fitzgerald said several neighboring districts have lost substantially larger sums to…
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