SRHS investigation shows no evidence of theft, so far
JACKSON COUNTY, MS (WLOX) - The man hired to lead the investigation of Singing River Health System's pension plan debacle says, so far, no evidence of theft or embezzlement has been found.
Attorney Billy Guice was hired late last year by the Jackson County Board of Supervisors to lead the investigation. In an update to the media Tuesday evening, Guice said his team's examination of the Health System Employee Pension reveals no evidence of theft, embezzlement, or pilfering from the trust assets.
Guice also claims that the board of supervisors was not advised and had no knowledge that health system officials had decided to stop contributing to the pension fund after 2009. According to Guice, a year before that big decision was made, the Employers' Retirement Plan and Trust reportedly suffered a 25 percent investment loss. He points out there is no evidence that any Health System senior officer withdrew his or her individual contributions in anticipation of the failure of the Pension Trust.
Guice also said health system officials are not taking money out of the pension to pay for defense lawyers to handle the pending lawsuits against them. The payment is coming from SRHS' Officer and Director Liability insurance carrier.
Currently, the pension plan is underfunded by $150 million.
Copyright 2015 WLOX. All rights reserved.