TULSA, Okla. — City Councilors met on Wednesday to approve a plan to use the surplus money in the City’s sinking fund to settle the nearly $200,000 lost in a transfer to a counterfeit bank account.

On April 4, 2024, $191,972,52 was intended to be deposited into a bank account for Tulsa Tourism District No. 1.

Instead, the money was deposited into a counterfeit bank account where it was unable to be recovered.

Jack Blair, the City of Tulsa’s attorney, said the instructions for the fund transfer were hacked and they found this out when the city was contacted.

“The vendor email used to provide the payment instructions was hacked,” said Blair. “And I can report that the FBI is investigating, and the city is to strengthen interchange processes as a result.”

Despite losing the money, the City of Tulsa was still contractually obligated to pay that amount.

The approval during Wednesday night’s City Council meeting has put the plan to pay back the lost money into motion.

City Councilors approved the plan to pay the owed amount with the surplus money in the city’s Sinking Fund.

Before the proceedings, a city attorney stated, “...the parties agreed to resolve the dispute with a Friendly Suit, as that settlement would come from the Sinking Fund. We have filled the Friendly Suit. In order to finalize the process, we need your approval on the settlement. City Legal recommends you approve the settlement amount of $191,972.52 paid from the Sinking Fund.”

City Councilors approved the payment in Wednesday’s meeting.

Due to the hack, this incident is still an ongoing investigation through the FBI.