Mayo Clinic reports $300,000 theft by worker

November 22, 2017 at 4:18AM

Mayo Clinic says it discovered last year the theft of more than $300,000 by an employee who was responsible for handling cash at the Rochester-based health care system.

Mayo says "additional tangible items" were discovered that might also be stolen property, according to a regulatory filing made public this month.

The theft "took place in Rochester and was discovered and reported to the FBI in 2016," said Mayo Clinic spokeswoman Susan Barber Lindquist via e-mail. "It's an ongoing investigation, so I can't provide other details."

An FBI spokesman had no comment.

Mayo Clinic reported the theft as part of its annual filing as a nonprofit group with the Internal Revenue Service. The filing, which Mayo made public last week, asks nonprofits to report any significant diversion of assets.

"It is estimated the loss exceeded $300,000," Mayo Clinic said in the filing. "The theft was reported to law enforcement, the employee terminated and improved cash handling practices were implemented."

In 2016, Mayo Clinic posted $475 million in net income on $11 billion in revenue. Beyond Minnesota, the health system has operations in Arizona, Florida, Iowa and Wisconsin.

about the writer

about the writer

Christopher Snowbeck

Reporter

Christopher Snowbeck covers health insurers, including Minnetonka-based UnitedHealth Group, and the business of running hospitals and clinics.

See Moreicon

More from Business

See More
card image
Spencer Platt

The U.S. stock market roared back on Friday, as technology stocks recovered much of their losses from earlier in the week and bitcoin halted its plunge, at least for now.

Attendees of Frostbike made their way through the convention Saturday at the Quality Bike Products campus in Minneapolis. ] (AARON LAVINSKY/STAR TRIBUNE) aaron.lavinsky@startribune.com Frostbike 2016 was held at the Quality Bike Products Campus on Saturday, Feb. 27, 2016 in Bloomington, Minn.
card image