Port Orange’s Pension Fund Account Defrauded

PORT ORANGE, Fla. – The bank account for the City of Port Orange’s employee pension fund was hit by fraudulent activity this week, according to a statement Thursday by a city spokesman. The details of the fraud were not specified, but the statement said that the funds were returned by the bank immediately once the activity was discovered. No money from the account will be lost. The statement also ruled out city employees as the culprit for the fraud, saying that the activity occurred somewhere outside the state of Florida. The city government, including the Port Orange Police Department, are working with federal investigators to uncover the source of the fraud. First State Trust, a Delaware-based financial institution, is the bank the Port Orange city government uses for their general pension fund.