LOS ANGELES (CBS) — Longtime hidden bank accounts are becoming a popular trend in the city of Montebello.
City officials say they’ve discovered a second off-the-books account that once held nearly $1 million in public funds, but now has only $5,000.
Christina Cortez, a Montebello city council member tells KNX 1070 there’s a very troubling aspect to this new development.
Cortez says she’s “completely caught off-guard” by the newly-found funds and that somebody at City Hall likely received monthly statements concerning the account.
The discovery comes just weeks after =officials uncovered another off-the-books account that once contained close to $250,000.
Despite news of the stashed cash, the city of Montebello struggles to close a major budget deficit that could force deep service cuts and layoffs.
(©2010 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)