Police investigate $3.6 million missing from Miami Beach bank account

Series of unauthorized transactions lead police to investigate

MIAMI BEACH, Fla. – The city of Miami Beach is investigating after $3.6 million was discovered missing from one of its general use bank accounts.

A series of unauthorized transactions from the account with SunTrust Bank led to the stolen money.

City Manager Jimmy Morales believes this is a case of cyber fraud.  

"We're a victim of crime and we're working closely with the FBI, the U.S. Attorney's Office and the State Attorney's Office to identify the culprit," Morales said Thursday.

Two employees resigned shortly after the missing money had been detected. The employees denied they caused the problem but feel the incident should have been discovered much sooner.

"Right now, we don't think it's internal, but we're not precluding anything," Morales said.

The city is hopeful that it will recover the money.

"I never want to make any promises… (but) we are hopeful,"  Morales said. 

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