MILWAUKEE — Milwaukee Public Schools lost $450,000 to a bank impersonation fraud, the district shared on Tuesday.
MPS said it was made aware of the fraud on Monday and that it’s notified state and federal authorities.
U.S. Bank has already recovered $225,000 of the total amount for the distirct. MPS said it’s still working to recover the remaining $195,000.
“This is a sobering reminder of the sophisticated financial scams that occur every day across the country. We are taking swift and immediate action to strengthen our internal procedures to prevent this from happening,” said Superintendent Brenda Cassellius in a release.
MPS said it’s conducting an internal investigation. It said it’s also taking “short-term and long-term controls to protect the district.”
More Info