Peterborough has recovered almost $600,000 of the $2.3 million it lost through an email scam this summer, the town announced Friday.
Town Administrator Nicole MacStay said in a news release that the U.S. Secret Service worked with People’s United Bank and HSBC to recover more than $594,000.
“I wish to express our sincere gratitude to those agents and the bank employees who worked so hard on our behalf to recover those funds,” MacStay said in the release, which contained few details.
Town officials have said they learned of the scam when payments meant for ConVal Regional School District and a contractor on the Main Street bridge project didn’t show up.
Officials said last month that the Secret Service — which investigates certain financial crimes in addition to protecting the president — believed the money had been exchanged for cryptocurrency and would not be recoverable. It isn’t clear whether insurance will cover the town’s losses, local officials have said.
The scam originated with emails to town finance staff telling them ConVal had changed banks and providing the details of a fraudulent account.