CINCINNATI A teller at CINCO Family Financial Center CU was charged in a civil suit with stealing $620,000 from the credit union’s vault and cash dispensers at its Clifton branch by inserting $1 bills within the bricks of $50s and $100s to replace the $50 and $100 bills that she stole.
The teller, Linda Fite, was able to hide her theft after she learned the credit union’s auditors didn’t look inside the bricks, according to a civil suit filed in state court by CUMIS Insurance Society.
CUMIS claims the thefts occurred between 2008 and January 2012 when Fite allegedly stole $50 and $100 bills from the inside of $50 and $100 bundled bills or “bricks.” The credit union said it confronted Fite in January 2012 with the discrepancy regarding the cash on hand, and she admitted to stealing the money. It is not clear if any criminal charges were ever filed in the case.
The civil suit, filed in Hamilton County Court, names Fite and the credit union’s auditors, Condit and Associates LLC, and its successor GBQ Partners LLC, as defendants. Condit shares the blame for failing to detect Fite’s scheme, according to CUMIS. “Defendant Condit and/or Condit and Associates was required to audit Change Fund Controls,’ which included the performance of surprise cash counts of the vault, teller drawers and cash dispensers at CINCO’s Clifton branch office.”
GBQ Partners bought Condit & Associates on July 1, 2011.