12Feb

Pasadena Suffers $6 Mil. Crime Loss; Are Your Governmental Clients Covered?

This large crime loss caught our attention….

The City of Pasadena was embezzled out of more than $6 million through a scheme that continued for over a decade. The suspect is a former employee who, with two accomplices, allegedly siphoned money out of a utility fund via fraudulent invoices from four bogus vendors. The City Manager Michael Beck admitted that “this is a complete breakdown of our internal controls” since it was allowed to continue for so long without detection. (Click here for the full story in the San Jose Mercury News)
 
Ensuring that oversight and controls are up-to-date and embedded in organizational DNA is critical to avoiding these types of losses. However, for those times when breaches occur, make sure that your governmental clients are covered for their losses with Berkley Crime’s insurance products. 
 
Contact Berkley Crime today at 844-44-CRIME or one of our team listed below.

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Contact Berkley Crime

National Practice Leader
Sean Missal (860) 466-7377
smissal@berkleycrime.com

East Regional Manager
Andrea Sullivan (860) 466-7373
asullivan@berkleycrime.com

Patricia Logan (212) 497-3708
plogan@berkleycrime.com

Matt McNamara (212) 497-3707
mmcnamara@berkleycrime.com

Mid-West Regional Manager
Michael Beranek (501) 707-6548
mberanek@berkleycrime.com

Amanda VanCauwenberge
(312) 730-1101
avancauwenberge@berkleycrime.com

Kyna Love (312) 705-1132
klove@berkleycrime.com

West Regional Manager
Jennifer Maggi (925) 472-8217
jmaggi@berkleycrime.com

Steve Nguyen (925) 472-8233
snguyen@berkleycrime.com

P: 844.44.CRIME
info@berkleycrime.com
www.berkleycrime.com

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