Monday, October 22, 2012

Preying Yantis: Water District Had No Internal Controls

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Yantis Green stole $62,800 in water utility funds over a five year period.  He did so via over 1,000 illegitimate credit card transactions.  The Standard Times reported:

The second transaction that Green made with the credit card, in June of 2007, is described as "Romney for President" for $100. The Romney campaign was also the beneficiary of a later donation, as well campaigns conducted by Gov. Rick Perry and U.S. Rep. Michele Bachmann.

The system failed at two levels.  First, internal controls failed to ensure Water District funds were spent appropriately.  Who reviewed and signed off on Green's monthly credit card statements?

Second, who conducted the Water District's annual fiscal audit?  Sarbanes-Oxley was intended to identify fraudulent use of funds by higher ups.

Five years with no internal controls and no effective audit?  It sounds like the National Republican Congressional Committee (NRCC).

Update 1-29-13:  Green will serve one year in federal prison, face two years parole and pay a $3,000 fine for his crimes. 

1 comment:

Palmer said...

Family and friends of San Angelo,

Please help me write a letter to the city council about the apparent fraud that is occurring with my water meter and the San Angelo Water district. I thought I was the only one but then I saw this in the
Sunday newspaper.
http://www.gosanangelo.com/news/2012/oct/11/letter-be-wary-of-water-meters

This matches my my issue exactly with dates and all so I now believe I am not the only one. If there is already an organized action please let me know as I would love to be involved.

I am selling my home and moving to another district because of this ridiculous behavior.

Any ideas about content and how to go about this would very appreciated.