WKU Public Radio News Staff
Mon March 21, 2005
Embezzlement Charges Against BG's CFO
Bowling Green, KY – Bowling Green Chief Financial Officer Davis Cooper faces federal charges of embezzling more than $2.3 million from the city's insurance premiums tax receipts.
Cooper was arrested at his Bowling Green home Saturday
At a Monday morning press conference, city officials and agents from the FBI charged that Cooper would remove the insurance premium checks from the city's post office box and then enter them into his computer as un-collected.
He would then deposit the checks, ranging from $5 to $38,000...into a separate account that he had access to
It's alleged Cooper had been running the scheme since he was city treasurer in the 1990's. He wa spromoted to CFO three years ago. The scam was just discovered by the current city treasurer this month
The city's software vendor will examine their computer system to find out why no red flags were set off before now. Also auditors will be reviewing other city records for possible future audits and they'll review their entire process of receiving and depositing tax revenues.