Monday, March 19, 2012

Ohio Company That Received Federal Stimulus Funds Reports $111K Embezzlement

3MX Partners LLC, a real estate company based in Columbus, Ohio reported to authorities that it was the victim of an embezzlement and kickback scheme that defrauded it out of at least $111,625.  According to media reports, 3MX Partners received a bond financing from the federal stimulus program to renovate a building in the amount of $2.2 million.  It was reported that two suspects, including at least one employee, colluded in an over-billing and kickback arrangement from the proceeds on the project.  It is unclear whether any arrests have been made in this case.


Read the story here.

1 comment:

Philippine real estate said...

I just take a peek and I discovered your blog. It has a valuable and informative content. Big thanks for sharing.

Charles A