Council was fully briefed ten days before city hall reported that half a million had been taken from city accounts by an as yet unknown third party.

News 100 redBy Staff

July 4th, 2019

BURLINGTON, ON

 

It looked like a minor matter on the Audit Committee agenda – but it was probably that whopper of an issue – the more than half a million dollars that got sucked out of a city bank account.

Angelo B

Councillor Bentivegna moved a motion to put city council into a closed session.

The Audit Committee went into a CLOSED session. Moved by: Councillor Bentivegna that the Audit committee “Move into closed session in accordance with the following provisions under the Municipal Act, sections 239 (a) the security of the property of the municipality or local board, with respect to finance department report F-24-19 regarding the risk of fraud”.

This took place on June 5th,  – the city reported that the money disappeared on June 14th

The city deserves some credit for eventually going public.  There hasn’t been a word since.  Report F 24-19 would have had plenty of detail that got discussed behind closed doors.

There is really no reason for this level of Closed Session use.

Related news story:

City gets clipped for a half a million.

 

 

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1 comment to Council was fully briefed ten days before city hall reported that half a million had been taken from city accounts by an as yet unknown third party.

  • david barker

    Making public every minute detail of how the scammers did it, or what precautions have now been taken to protect against future attacks may not be prudent. Knowing how much insurance was in place may be interesting.

    The delay in making any announcement likely has to do with the time it took to complete an investigation, or maybe to see if the money could be pulled back, which if it had to travel through correspondent banks to its final destination, is a possibility.

    @Staff, what additional information are you expecting/wanting to hear.

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