A political action committee funded by employees of Abbott (NYSE:ABT) reported that $16,000 worth of unauthorized checks were written and cashed against its bank account.
The Abbott Laboratories Employee Political Action Committee, which donated more than $2.7 million to various political campaigns in 2012, reported than an unauthorized party wrote and cashed 4 checks for a total of $16,100, according to a recent quarterly filing with federal regulators.
"The committee and its depository, Bank of America, were subjected to a series of instances of fraud during the reporting period," officials at the PAC wrote in a filing with the Federal Election Commission. "Specifically, an unknown individual created and cashed fictitious and ultimately forged checks, and cashed the checks during the reporting period. These unauthorized disbursements were identified in the course of reconciling accounts to prepare the current report, and the committee notified the bank of the issue.”
Abbott said that Bank of America has returned the funds to the PAC’s account.
