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Superintendent reports district discovered sophisticated check-fraud; bank recovering funds
Summary
Superintendent Nathan Libbon told the board the district discovered a sophisticated check-fraud scheme late last fall; the bank detected it, some funds have been recovered, and the bank is continuing recovery efforts.
Superintendent Nathan Libbon informed the board that the district experienced a sophisticated check-fraud scheme discovered late last fall. "Late last fall, we found out that we had check fraud. The bank caught it," Mr. Libbon said, adding that the bank has recovered some funds and is working to return the remainder. He said the board chair was notified upon discovery and that no further incidents have occurred since the bank shut down the scheme.
The board did not record additional details in the public minutes about the mechanics of the fraud, the total loss amount, or whether the district is conducting an internal review beyond cooperation with the bank. Mr. Libbon did say that the district has not experienced further problems since discovery and that the bank continues recovery efforts.
