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$3.6 million missing from city of Miami Beach bank account

Posted at 1:29 PM, Dec 23, 2016
and last updated 2016-12-23 13:36:23-05

MIAMI BEACH, Fla. (AP) - Miami Beach city officials say $3.6 million has gone missing from one of the city's bank accounts.

City Manager Jimmy Morales said Wednesday in a letter to city commissioners that someone accessed information from one of the city's accounts and illegally set up an automatic transfer to other banks.

The Miami Herald reports that over an unspecified amount of time dozens of transfers were made from the city's SunTrust account involving $3.6 million in taxpayers' funds.

Morales says city workers shouldn't be blamed but they should have noticed the illegal transfers sooner.
Two managers in the city's finance department resigned Wednesday.

The FBI is investigating.

Commissioner Kristen Rosen Gonzalez says the theft is shocking and she is waiting for an explanation about how it happened.