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County Prosecutors Investigate Montebello Over Missing Money

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(credit: CBS)

(credit: CBS)

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LOS ANGELES (AP) — Los Angeles County prosecutors are investigating the city of Montebello over reports that city funds have gone missing from unofficial bank accounts.

District attorney’s spokeswoman Jane Robison said Wednesday that an inquiry has been opened to determine whether a criminal investigation is warranted.

City officials said last week that only $5,000 remained in an off-the-books Union Bank investment account that once held about $900,000.

The Los Angeles Times reports there was a second unofficial city account at Banco Popular containing $240,000, which showed withdrawals in 2004 and a deposit in 2007.

Officials say they don’t know why the accounts weren’t on the city’s books or where the money went.

Montebello, a city of about 65,000, has had its share of financial troubles. Federal officials are seeking the return of $1.3 million in housing money they say the city mishandled.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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