Press release date: Wed Jun 22nd, 2011
WEST LINN – The City of West Linn received a notice and a check today for $190,474 as restitution in the City of West Linn v. Elma S. Magkamit case. This brings the total received by the City to $776,166.
In 2007, Magkamit admitted to the embezzlement of $1,420,000 in an agreement with legal authorities. The agreement entitles the City to restitution plus statutory interest of nine percent per annum.
In 2007, the City received $100,000 from its insurance carrier. In 2008, the City received $100,692 from the sale of Magkamit’s personal residence. In 2009, the mediation with the City’s former auditors and insurance carrier was settled and the City recovered $385,000. The $190,474 payment received today was the first payment from Magkamit’s PERS account. An additional, final $100,000 from Magkamit’s PERS account is anticipated in the next 90 days.
$100,000 in 2007 from City’s insurance carrier
$100,692 in 2008 from sale of Magkamit’s personal residence
$385,000 in 2009 from mediation settlement with former auditors and insurance carrier
$190,474 in 2011 as the first payment from Magkamit’s PERS account
$100,000 anticipated in 2011 as final payment from Magkamit’s PERS account
$876,166 total restitution
The total amount recovered from the embezzlement is $876,166, or 62 percent of the $1,420,452 that Magkamit admitted to embezzling from the City of West Linn between September 2000 and March 2005. Information about the embezzlement is chronicled on the City’s web site here.