In response to 2nd degree grand larceny charges filed April 2 by local authorities against TCAT accounts assistant Pamela Johnson regarding the alleged embezzlement of roughly $247,000 “over the last several years”, KyuJung Whang, chairman, TCAT Inc. Board of Directors, has issued the following statement:
The TCAT Board of Directors and the TCAT management team are taking their obligations very seriously in the wake of these grave allegations.
Irregularities were discovered during TCAT’s annual financial audit performed by an external accounting firm. TCAT subsequently conducted an internal investigation and then contacted the police. Ms. Johnson was immediately suspended from her duties, pending the investigation. Upon charges being filed today, TCAT officially terminated Ms. Johnson’s employment.
To confirm that no additional funds are missing, TCAT is bringing in an independent forensic auditing firm to further scrutinize the agency’s financial records.
The TCAT board and management team are firmly committed to ensuring that such incidents do not occur in the future. We are reviewing all of our accounting processes and will implement all necessary changes.
In the meantime, TCAT continues to fully cooperate with Ithaca City Police Department investigators and the Tompkins County District Attorney’s Office. In addition to the criminal charges and punishment associated with those, the District Attorney’s office will seek to require Ms. Johnson to make full restitution to TCAT.