Woman Accused of Embezzlement from Detroit Retirement System Charged
A 52-year-old former employee of the Retirement System City of Detroit has been charged with embezzling more than $460,000 from the system.
According to Michigan Attorney General Dana Nessel, Evette Byrd was arraigned on Wednesday, Feb. 26, in Wayne County Circuit Court in Detroit.
Court documents state that Byrd was charged with one count of embezzling $100,000 or more and one count of using a computing device to commit a crime. According to Nessel’s office, each carries a 20-year felony charge.
Byrd is scheduled to appear in court on Wednesday, March 5. Her attorney was not immediately available for further comment.
According to a Detroit News report, Byrd, who previously worked for the Retirement System City of Detroit, used her position to embezzle funds from the pension fund manager. Police allege Byrd used the money on pre-paid credit cards or debit cards intended for pensioners who don’t have bank accounts, according to a statement by the retirement system.
In January, Nessel’s office charged Byrd with embezzlement. Court charging documents stated that a judge set her bond at $100,000. On Feb. 12, the judge ordered Byrd to stand trial in circuit court.
“People employed by retirement systems are entrusted to protect retirement savings and ensure those funds are used as intended,” Nessel said in a statement shared with The Detroit News. “My Department remains committed to holding accountable those who use their position to steal from the savings of public servants.”
The Retirement System of the City of Detroit oversees two pension funds for city employees: the General Retirement System and the Police and Fire Retirement System. A 10-member Board of Trustees administers the general system’s $1.7 billion fund for approximately 11,000 retirees and 5,000 active city employees. A 16-member Board of Trustees directs the police and fire system’s $2.7 billion fund benefiting approximately 8,000 retirees and 3,000 active first responders.
