New York, New York, January 29, 2010—
Kessler International released this week the forensic audit report stemming from a forensic audit of the City of Fort Pierce Community Services Department. The Community Services Department administers grant funds from the Federal and State governments to assist low and moderate income individuals obtain low interest deferred mortgages or funds to renovate structures.
The audit discloses disturbing findings regarding the disbursement of taxpayer funds, including cronyism, theft, fraud, bid rigging and a glaring lack of internal controls.
Additionally, the majority of the mortgages issued through these programs contained glaring errors, incorrect or inappropriate payment terms and other errors which indicate either gross incompetence or incompetence by design. Additional issues also concerning many transactions with contractors and City employees were highlighted as suspicious. The City Manager of Fort Pierce stated he is forwarding Kessler International’s findings to Federal and State authorities to investigate the allegations of criminal activity.
The Kessler Report in its entirety is available at www.investigation.com/reports.asp.
Kessler International’s satisfied clients are comprised of an extensive and distinguished list of Fortune 500 companies, government agencies, and prestigious law firms worldwide. Its diverse staff includes former prosecutors, former law enforcement agents, attorneys, certified forensic accountants, certified fraud examiners, certified forensic computer examiners, CPAs, certified internal controls auditors, licensed investigators and researchers.
For more information on forensic accounting, computer forensics, and investment fraud, visit Kessler International’s website at www.investigation.com or call (212) 286-9100.
Michael G. Kessler
President and CEO
New York, NY