Birmingham Water Works Pension Loses Millions in Fraud Scheme

Posted by .

birmingham-water-works

Birmingham Water Works Board

After all the criticism heaped on the Birmingham Water Works Board for shockingly high bills and questionable legal contracts, a new controversy emerged this week. The water works pension fund lost more than $4 million in what’s described as a “Ponzi-style” scheme. The scheme spans from New York financial types to an Indian tribe in South Dakota to the Cayman Islands. Alabama Media Group columnist John Archibald has the details.

Andrew Yeager

Andrew Yeager

Host/Reporter



John Archibald

Alabama is full of big news stories. From the removal of the Confederate battle flag, to gay marriage, to Birmingham's increase in the minimum wage. It's a lot for journalists to keep up with and a lot of great materials for columnists like AL.com and The Birmingham News' John Archibald. He discusses the city, county and state politics in forums large and small.

Internal City Government Spats Affect Election Outcome
08-24-2017

Alabama Media Group columnist John Archibald discusses the results of Tuesday’s municipal elections in Birmingham.

Republicans Prepare for Battle in Senate Runoff
08-17-2017

Alabama Media Group columnist John Archibald discusses this week’s U.S Senate primary and next week’s municipal election in Birmingham.

Outgoing State Ethics Commissioner Takes Aim at Fellow Commissioners
08-10-2017

An outgoing member of the Alabama Ethics Commission says the panel has been lax in upholding rules to keep state government in line.

Trump’s Attacks on Sessions Become Part of U.S. Senate Primary
07-27-2017

Alabama Media Group columnist John Archibald discusses the Republican side of the special primary election for U.S. Senate.

Corruption Probe Moves Beyond Indicted Former State Lawmaker
07-20-2017

Alabama Media Group columnist John Archibald discusses what could be next now that indicted former state lawmaker Oliver Robinson is cooperating with prosecutors in a bribery scandal.