ONLY ON 5: Shelby CO. retirement fund theft - Action News 5 - Memphis, Tennessee

ONLY ON 5: Shelby CO. retirement fund theft

Posted: Updated:
Shular said the discovery of the theft proves routine audits work. Shular said the discovery of the theft proves routine audits work.
Memphian Thaddeus Williams says he dreads paying bills every month. Memphian Thaddeus Williams says he dreads paying bills every month.
County spokesman Steve Shular says employees immediately recognized something was wrong while looking at the monthly ledger. County spokesman Steve Shular says employees immediately recognized something was wrong while looking at the monthly ledger.
SHELBY COUNTY, TN -

MEMPHIS, TN - (WMC-TV) – Who doesn't dread paying bills every month?  That includes the often hefty cost of cable TV.  Memphian Thaddeus Williams said he does.    

"But I don't think I'd tap into someone else's account," said Williams.

That's what someone is accused of doing.  And what they tapped was the Shelby County Retirement Fund.

"We were looking at the monthly ledger and we realized that there were a couple of accounts that county money had been shifted to that belonged to Comcast," said Shelby County spokesman Steve Shular.

Shular said employees immediately recognized something was wrong.

"That some person had used a routing number from a county-associated check to pay their Comcast bill," said Shular.

The person verbally authorized at least two $250 checks payable to Comcast using retirement fund money which is used to pay county retirees.

"Once we got that information back from the bank, we immediately contacted law enforcement and we've got an investigation going," said Shular.

Shular said the discovery of the theft proves routine audits work.  Additional policy changes will be made to ensure any future fraud is swiftly detected.

Meanwhile, Comcast customers believe it's best to pay your bill using your own money.

"They'll always get you, they'll always find you eventually," said Thaddeus Williams.  "It may take some time, but you'll pay for what you did."

Investigators know whose name is on the Comcast account that was paid.  But, so far, no one has been arrested.  Our calls to Comcast have not been returned.

Copyright 2013 WMC-TV. All rights reserved.

Powered by WorldNow