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County votes to settle lawsuit against bank

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 SHEPHERDSVILLE - The lawsuit stemming over the cyber-theft of over $400,000 from the county government’s on-line bank account appears to be over.

However, no details of the settlement have been released.

After discussing the matter for nearly an hour in closed session, Bullitt Fiscal Court voted 4-1 to allow the county attorney to settle the lawsuit with First Federal Savings Bank.

In 2009, the county’s on-line account was the subject of an on-line theft of funds. Through the work of the bank officials, county officials and insurance payment from the Kentucky Association of Counties insurance policy, much of the money was recovered.

After the theft and subsequent lawsuit, the county changed its financial accounts to PBI Bank.

Most recently, the county and First Federal officials began settlement discussions.

In January, the fiscal court members authorized a “proposal” be offered to First Federal.

After the 4-1 vote on Tuesday, with magistrate Joe Laswell in opposition, county attorney Monica Meredith Robinson had “no comment” on any details of the settlement.

She did not know when the settlement would be officially signed with the bank.