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Misplaced Money Returned to Medina LibraryThe Medina County (Ohio) District Library now has all its tax money back after a bank error caused $192,000 in state funding to be deposited into the account of a cowboy boot company in Tennessee. National City Bank in Cleveland, which holds accounts for both the library and Texas Boot, returned the money to the library June 23 after County Prosecutor Dean Holman filed an injunction freezing the boot company’s assets, the Akron Beacon Journal reported June 24.In April, the county treasurer’s office wired three disbursements of tax money totaling nearly $500,000 to the bank. All three were deposited into the Texas Boot account, which had the same number as the library’s. The bank returned two transfers totaling $302,000, but had not returned the third since the boot company had spent nearly $80,000 of the funds before filing for bankruptcy in Tennessee. National City said it had properly handled the wire transfers and was restoring the library funds from its own holdings. Holman said he is considering a criminal prosecution against the company, according to the June 24 Cleveland Plain Dealer. “We got it all back,” he told the Beacon Journal. “On behalf of the library, taxpayers of Medina County, and the treasurer’s office, I’m very happy. The library needed it.” Posted June 24, 2005. |
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