{"id":903,"date":"2007-08-19T07:25:53","date_gmt":"2007-08-19T12:25:53","guid":{"rendered":"http:\/\/www.sequence-inc.com\/fraudfiles\/2007\/08\/19\/milwaukee-county-needs-forensic-accountants-again\/"},"modified":"2007-09-13T08:56:32","modified_gmt":"2007-09-13T13:56:32","slug":"milwaukee-county-needs-forensic-accountants-again","status":"publish","type":"post","link":"https:\/\/www.sequenceinc.com\/fraudfiles\/milwaukee-county-needs-forensic-accountants-again\/","title":{"rendered":"Milwaukee County needs forensic accountants again"},"content":{"rendered":"<p>Last time it was the <a href=\"http:\/\/www.sequence-inc.com\/fraudfiles\/2006\/01\/24\/milwaukee-fraud-museum-considers-hiring-forensic-auditors\/\">public museum<\/a>.<\/p>\n<p>This time it&#8217;s the pension scandal. Revisited. Again. How many times do the taxpayers have to get screwed by the Milwaukee County Pension Board?<\/p>\n<p>The Pension Board has approved an &#8220;independent&#8221; investigation into the &#8220;pension buybacks,&#8221; and has acknowledged that the investigator will likely need the help of a forensic accountant.  Here&#8217;s the cute part, though&#8230; The investigation will not be into the improprieties recently uncovered by the Journal Sentinel. Nope. They&#8217;ll be investigating the potential for other problems. Nice.<\/p>\n<p>A former county auditor openly objected to this process, because she said it didn&#8217;t go far enough in looking for fraud in the buybacks.<\/p>\n<p>What is the buyback scandal, you say?<\/p>\n<p>An investigation by the Journal Sentinel found that about 350 county employees are going to get about $50 million extra through&#8221;buybacks.&#8221; The buyback program was an opportunity for county employees to convert &#8220;ineligible&#8221; employment time to &#8220;eligible&#8221; for pension purposes by paying a small bit of money. Employees essentially were able to &#8220;buy&#8221; larger future pensions, the ability to retire earlier, and additional health insurance benefits after retirement. The program was done in the early 1990s, and apparently violated Internal Revenue Service rules.<\/p>\n<p>11 buybacks are slated to be rescinded, and another 200 are going to be &#8220;corrected.&#8221; <a href=\"http:\/\/technorati.com\/tag\/tracy\" rel=\"tag\"><\/a> <a href=\"http:\/\/technorati.com\/tag\/coenen\" rel=\"tag\"><\/a> <a href=\"http:\/\/technorati.com\/tag\/tracy+coenen\" rel=\"tag\"><\/a><a href=\"http:\/\/technorati.com\/tag\/tracy+l+coenen\" rel=\"tag\"><\/a>  <a href=\"http:\/\/technorati.com\/tag\/sequence\" rel=\"tag\"><\/a> <a href=\"http:\/\/technorati.com\/tag\/sequenceinc\" rel=\"tag\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last time it was the public museum. This time it&#8217;s the pension scandal. Revisited. Again. How many times do the taxpayers have to get screwed by the Milwaukee County Pension Board? The Pension Board has approved an &#8220;independent&#8221; investigation into [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":["post-903","post","type-post","status-publish","format-standard","hentry","category-fraud-news-stories"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6Z0e-ez","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/comments?post=903"}],"version-history":[{"count":0,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/posts\/903\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/media?parent=903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/categories?post=903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sequenceinc.com\/fraudfiles\/wp-json\/wp\/v2\/tags?post=903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}