In a shocking display of fiscal mismanagement, the City of Milwaukee’s cash balance has flooded out to local banks, with the Liberty State bank emerging as the biggest beneficiary. Despite none of the $255,000, the county’s share of income taxes, being deposited with the Liberty bank by City Treasurer John I. Drew, the bank still holds an astonishing $350,000 of the city’s deposits. This revelation has left experts questioning the city’s financial acumen and raised concerns about the potential for a major bank heist.
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Key Facts
- State: Wisconsin
- Category: Fraud & Financial Crimes
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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