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Missing state money now put at $10 million
Rocky Mountain News ^ | 05 may 07 | Tillie Fong And Betsy Lehndorff

Posted on 05/05/2007 6:30:46 AM PDT by rellimpank

The amount Department of Revenue supervisor Michelle Cawthra allegedly stole from state coffers is now up to $10 million, double the initial estimate, lawmakers learned Friday.

Cawthra's supervisor, Janet Swaney, was placed on administrative leave Friday as the investigation continued into how such a large amount could have been diverted without anyone noticing.

The new dollar amount was revealed by Roxy Huber, executive director of the Department of Revenue, during testimony before the Joint Budget Committee on Friday.

"We have been questioned by a number of people: "How could this have happened?" Sen. Abel Tapia, D-Pueblo, committee chairman, said at the start of Friday's session. "What steps are in place so that this doesn't happen again?"

(Excerpt) Read more at rockymountainnews.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; US: Colorado
KEYWORDS:
---Colorado state government audit failure laid bare--
1 posted on 05/05/2007 6:30:50 AM PDT by rellimpank
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To: rellimpank

—followup to this—

http://www.freerepublic.com/focus/f-news/1828637/posts


2 posted on 05/05/2007 6:32:04 AM PDT by rellimpank (-don't believe anything the MSM states about firearms or explosives--NRA Benefactor)
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To: rellimpank

You have to wonder how dim this gal was...to move such a huge sum of money and think she’d get away with it. If this had been $30k...it wouldn’t have been missed. She has to be a whack-job and no competency whatsoever...and then you have to wonder how she ever got the job?


3 posted on 05/05/2007 6:35:34 AM PDT by pepsionice
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To: rellimpank

Note that they also arrested this Andrew Holliday, AND THEN found out they had NO evidence against him.

Wouldn’t it have been a good idea to have checked that out FIRST!


4 posted on 05/05/2007 7:00:20 AM PDT by chaosagent (Remember, no matter how you slice it, forbidden fruit still tastes the sweetest!)
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To: rellimpank

Uh oh, looks like she’s going to have to spend some time with Uncle Mike! (Uncle Mike is a prison guard).


5 posted on 05/05/2007 8:13:45 AM PDT by adgirl
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To: pepsionice

—yep—I never cease to be amazed at some of these embezzlements. Where do you put ten million dollars?


6 posted on 05/05/2007 8:19:23 AM PDT by rellimpank (-don't believe anything the MSM states about firearms or explosives--NRA Benefactor)
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To: rellimpank
"Where do you put ten million dollars? "

I would be willing to try and find places.

7 posted on 05/05/2007 8:24:27 AM PDT by mad_as_he$$ (NSDQ)
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To: mad_as_he$$

Good luck. Because of the drug war, doing anything with more than ten thousand dollars raises red flags all over the banking world. And paying cash for things over that amount does the same.

I had to wait over a week to clear a check from my inheritance because of that.

All to stop people from getting high...


8 posted on 05/05/2007 8:37:35 AM PDT by gcruse
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To: gcruse
There are ways around the foolish banking laws. You would be surprised how much cash gets moved around and who is moving it. In my business we often do very large deals (well over 10k)with foreign entities that have no way of paying for it in the US (we do not accept letters of credit). It is all cash on barrel head. We then process it according to the needs of our company. Only been tagged once and when the DEA guys saw what business we were in they said thanks and left.
9 posted on 05/05/2007 8:42:05 AM PDT by mad_as_he$$ (NSDQ)
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To: mad_as_he$$

“when the DEA guys saw what business we were in they said thanks and left.’

You prove my point. The DEA was all over you before they weren’t.


10 posted on 05/05/2007 8:45:12 AM PDT by gcruse
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To: gcruse
Yes but just one time in literally hundreds of incidents. New clerk mis-coded an entry and they showed up. Was about to call the lawyer when one looked at the other and said "Did you read the business description?" the other guy said "No" and they beat feet it. I do think that they look for patterns.

I have in my personal life moved large amounts of cash around on many occasions. Never had an issue. I pay cash for all my cars at dealers and never even had a question. I mostly think they are happier with cash no waiting or liability of a check going south.

11 posted on 05/05/2007 8:51:35 AM PDT by mad_as_he$$ (NSDQ)
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To: adgirl

Michelle, Janet and Roxy. Now there’s a three-ball combination for you.


12 posted on 05/05/2007 9:49:01 AM PDT by Melchior
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To: rellimpank
Michelle Cawthra was arrested on Saturday, April 28, 2007, in connection with the theft of millions of dollars from the Department of Revenue. A second suspect also was arrested. A third suspect, Hysear Don Randell, her boyfriend, above, remains at large. (Denver District Attorney)

13 posted on 05/05/2007 12:28:26 PM PDT by Bon mots
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