Not All Rosy in Pasadena

Pasadena, home of the Rose Parade nestled in the foothills of the San Gabriel mountains overlooking LA.  Home also of alleged embezzlement of $6.4 million missing dollars.  The suspected formula for embezzlement is to find an obscure budget fund that has been  financing little activity, position city employees in on the scheme as signatories on the fund’s purchases and payments,set up an outside firm to bill for bogus services and then direct the proceeds to conspirators.  A tried and true formula with a long history of ripping off  businesses, non-profits and government jurisdictions, all of whom learned the need for basic accounting controls the hard way.