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HomeBreaking News USAKentucky city reports $4M electronic theft of housing funds

Kentucky city reports $4M electronic theft of housing funds

A Kentucky city reports about $4 million in housing funds was stolen electronically.

The funds included federal rent assistance and transitional housing funds and were originally intended for Community Action Council, the city of Lexington said in a news release Monday.

Police believe someone outside government directed an electronic funds transfer into a private account, the release said. Initial information shows no criminal involvement of city or Community Action Council employees, the release said.

The funds were tracked to three wire transfers into a private account, which was frozen by the financial institution, officials said.

The government’s financial system was not compromised, city Finance Commissioner Erin Hensley said.

She said the city is working to help Community Action Council ensure continuity of housing assistance.

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