Decatur Park District looking to recover investment funds

DECATUR - November brought bad news for Decatur Park District as they learned their most recent investment of around $8,000,000 was being compromised in a faulty investment deal.

Park Commissioner Chris Riley told us that, "We had funds invested into IMET who then used Pennant as kind of the adviser for those funds, who then invested money on our behalf along with about three hundred other state agencies in Illinois into a fund down in Florida and, in theory, was backed by the USDA, but the fraud occurred and after that the Decatur Park District was out about $216,000."

The Florida-based company, First Farmers Financial, allegedly forged government documents and signatures, and are currently under investigation.  Park district officials removed their remaining investment after they found out about the fraud, and re-invested the money locally.

They have since been given $4,000 of that amount back and just received notification today that they will be getting more next week.  They hope to recover 50-70% of their initial investment.

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