An internal audit has found that more than $1.1 million was taken from a city bank account over a period of eight years, not $300,000 as previously suspected.
The Kingman Daily Miner reports that a city budget analyst has been fired as the theft is investigated. She was originally accused of taking the smaller sum on Nov. 16.
The audit shows that more than $1.1 million went missing from the Employee's Benefit Trust Account beginning in 2007, earlier than previously thought.
The city's insurance against employee theft has a $500,000 cap.
The analyst has not been formally charged, but faces potential charges of fraudulent schemes, computer tampering, money laundering and theft. She is reportedly cooperating with investigators.
