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More money recovered from failed beef processing plant

Reported by: Mel Carlock
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Updated: 3/06/2014 4:09 pm
OAKLAND, Miss. (WTVA) -- The state of Mississippi has recovered more money as part of its investigation into a failed beef processing plant in Yalobusha County nearly a decade ago.

State Auditor Stacey Pickering says his office recovered nearly $49,000 as part of an investigation that has been ongoing for the past decade.

The state has recovered nearly $617,000 since 2004 after Mississippi Beef Processors plant closed shortly after opening.

Mississippi had provided loan guarantees for the $55 million economic development project.

Six people pleaded guilty or were convicted for their role in the beef processors plant.

Pickering says the state will continue to pursue the case as long as there is a chance to recovery more money.

Pickering and State Treasurer Lynn Fitch say greater oversight of programs supported by state funds will help prevent wasteful spending.

The both point to House Bill 1318 to give the auditors office authority to conduct performance and complaince audits of ongoing economic development programs.

Currently, the auditor only has the authority to audit a small number of projects under the Mississippi Major Economic Impact Act.

HB1318 has cleared the House of Representative and is being considered by the Senate.

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