The Drifting Bag That Blew Open a Hydroelectric Heist
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The Drifting Bag That Blew Open a Hydroelectric Heist
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A retired schoolteacher’s morning bird photograph captured an industrial courier bag from Merrow Run Hydroelectric Station washing ashore 700 meters across open water, containing $11,420 in banded petty cash and two official receipts - how did that bag travel four days without anyone noticing a missing cash reserve? Who benefited from a hole in oversight that let money vanish in plain sight?
In this episode, we tell the sequence of events that followed Kathleen Smith’s discovery and the state financial crimes inquiry that unfolded, outlining the gaps in auditing, custody, and access that the investigators probed to answer the central question: where did the money go and how was it covered up?
Person: Kathleen Smith
Location: Merrow Run cattail bank, approximately 700 meters from Merrow Run Hydroelectric Station
Date: July 9, 2011 (bag found); bag drifted July 5-9, 2011
Person: Nancy Taylor, state financial crimes investigator, 24 years old with 11 months on the job
Amount: $11,420 in banded petty cash (eleven thousand four hundred and twenty dollars)
- The courier bag belonged to Merrow Run and was registered to the station’s rear loading area.
- The bag drifted across open water for four days (July 5-9) before washing ashore where Kathleen Smith found it at 6:47 AM on July 9.
- Inside the sealed bag were $11,420 in banded petty cash and two paper receipts bearing Merrow Run operational markings.
- Merrow Run operated with fewer than 60 full-time employees and a petty-cash lockbox with a ceiling of $30,000.
- Audits showed six consecutive reconciliations passed through Devereaux Associates, with a 17-day gap between rotating auditors that left the petty-cash reserve unreviewed.
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