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The region is still sifting through the audit trail, sort- ing out precisely how much money can be tied to issues with Avero, though Mr. Macgnegor said it is in the hun- dreds of thousands. ~ The company has since shut its doors and its fleet was auctioned off in November. The region's report recommended more detailed pro- cedures and oversight, including verifying the physical counting of funds and led to regularly scheduled visits to Avero’s facilities. Whether any money is recoverable from insurance also remains to be seen. Regional council receives an in-camera update on the investigation and possible litigation today. â€"With files from Ybrstar News Service By October 2008, Hamilton had dfopped its contract with the company. While each of the municipalities encountered similar problems none appears to have known what was going on next door, or how widespread the problems were. Toronto followed suit in early 2009, as did York Region. From August 2006 to October 2006, more than $137,000 of the region’s money went missing, but in Hamilton and in York Avero oflicials offered assurances the problems would be resolved. The York Regional Police fraud unit is investigating. The money eventually showed up, as did about $800,000 of a missing $1.7 million missing in Hamilton. The Toronto Parking Authority was out $47,000 by the time the city terminated its contract with Avero in January 2009. During September and October 2006 it took up to 24 days from the time Avero collected the cash to when the deposit was credited to Viva’s accounts with Royal Bank It took nine days for Avero to make the deposit though they were supposed to do so the day after collec- tion, the rest of the delay occurring at the bank’s end. Avero beat out four other bidders to land a $1.1 mil- lion contract with the region in 2005 and appeared to be fast-growing, successful business, regional CAO Bruce Macgregor said. A 2007 audit report raised some concerns about the handling of cash collected from transit fares. It is estimated about $1.5 million went missing between York Region, Toronto, Hamilton and Missis- sauga at (he handsiof Avero Security. “There's every reason to believe it was a fairly sophis- ticated fraud," he said. BY DAVID FLEISCHER dfleischer®yrmg.com An armoured company expected to take the region's transit fares to the bank is on the hook for hundreds of thousands of missing dollars. // 0 3M Scolchguard Durham - LOOSE BUGS ll Steam - snowmom Police investigating transit fraud Region trying to recover lost money through insurance 905-642-51 1 1 ' UPHOLSTERY TURBO OOOL SETTING 25.1 CI]. FT CAPACITY INTERNAL AUTOMATIC ICE MAKER DIGITAL TEMPERATURE READ-OUT WITH DOOR ON SELECT“ GE PROFILE'” APPLIANCES 0 PRECISE AIR CONVECTION SYSTEM 0 MDIJ'I PDBDElAlN DDATED SELF CLEANING WEN MS 0 6”]9”/1 2" TRI-RING ELEMENT 0 HIDDEN BAKE ELEMENT MAY 14” TO JUNE 30”. 2010 Rebates “Exdudes wine chillers, accessories. front load laundry 200/6 in Receive up to W201“! Sec ECLIPSE BLAOK NYLON DEEP- TIEIIED RADKI STAINLESS STEEL INTERIOR SMART DISPENSE TECHNOLOGY WTTH