Kennett recoups $1 million

The Kennett Township manager announced Wednesday that the township has recovered roughly one-third of the money allegedly embezzled by Lisa Moore.

Lisa Moore

In a press release issued about an hour and a half before the virtual supervisors’ meeting was scheduled to start, current township Manager Eden Ratliff said the township was paid $1 million from a surety bond that covered Moore, the former township manager who was fired earlier last year after suspicious transactions were discovered.

“All the funds from the million-dollar surety bond were received last week and deposited in the township bank account,” Ratliff said in the press release, adding that “the money will be invested for now.

“The funds are unrestricted, meaning the money can be used as needed by the township.”

Moore was arrested in December 2019 and charged with embezzling more than $3.2 million of the township’s finances.

“The District Attorney’s office stated the money was stolen from employee benefits, the police department, land preservation, and other township operations,” according to the press release.

The surety bond was one route the supervisors were pursuing to recover some of the money.

According to the press release, “A surety bond guarantees a specific individual, in this case, former township Manager Lisa Moore, will act in accordance with certain laws.”

Moore is facing criminal charges following a months-long investigation by both the Chester County District Attorney’s office and an independent forensic accountant.

1 Star2 Stars3 Stars4 Stars5 Stars (4 votes, average: 4.50 out of 5)
Loading...

About Monica Fragale

Monica Thompson Fragale is a freelance reporter who spent her life dreaming of being in the newspaper business. That dream came true after college when she started working at The Kennett Paper and, years later The Reporter newspaper in Lansdale and other dailies. She turned to non-profit work after her first daughter was born and spent the next 13 years in that field. But while you can take the girl out of journalism, you can’t take journalism out of the girl. Offers to freelance sparked the writing bug again started her fingers happily tapping away on the keyboard. Monica lives with her husband and two children in Kennett Square.

Comments

comments

Leave a Reply

You must be logged in to post a comment.