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Unclaimed Money: Oklahoma auditor steals cash!

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Services for Real Estate Pros with Immediate Home Solutions

 

In Oklahoma, the former internal auditor of the Treasurer's Office has been indicted with three others for allegedly scheming to steal thousands of dollars from the state's unclaimed property fund.

They say allegedly until they prove it in a court of law.  

LaTisha Raye Reid has been accused of multiple counts of forgery for (allegedly) stealing unclaimed funds that belong to others and is in violation of the computer crimes act and conspiracy to defraud the state.

Three other defendants face similar charges.

Reid was suspended from her job in June when the allegations surfaced and then was terminated by Ken Miller, the state Treasurer.

The Unclaimed Property fund in Oklahoma contains about $59 million dollars and Reid and the others are under indictment for allegedly taking about $30,000.

Most states know that only about 10% of the money or less is ever returned to the rightful owners.  $30,000 seems like a little bit to throw (if found guilty) one's life away.  She faces first-degree forgery whick is punishable by a minimum of seven years and a maximum of 20 years in prison. Cofspiracy and obtaining money by false pretenses in an amount exceeding $1,000 are each punishable by up to 10 years in prison and fines of up to $25,000.

 

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With Enthusiasm,

Jeffrey M. Richman