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The Union President, the Storm Drain Ledger, and $3.4M Missing
The Union President, the Storm Drain Ledger, and $3.4M Missing
A storm drain held a dry, spiral-bound ledger whose pages had somehow avoided three days of April rain and would unravel $3.4 million missing from a union pension over twelve years. How did an ordinary line item called "administrative overhead - document storage" and a mound of routine payments hide a scheme that quietly shrank 1,400 retirements by an average of 8%?
In this episode, we follow the discovery that set investigators moving backward through years of routine bookkeeping, pension audits, and certified checks to ask how a…
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