Town sent $1M to scammers posing as Colorado company

ERIE, Colo. (AP) - Officials in Colorado have reported the town of Erie fell victim to financial fraud after sending more than $1 million to scammers posing as the construction company that built a new bridge connecting town.

KUSA-TV reported Monday that the town administrator confirmed the incident saying someone filled out an electronic form asking for the construction vendor to be paid by electronic funds transfer rather than by check.

Officials say the town did not confirm the request with the vendor before approval and sent $1,016,233.80 to an account they believed to be valid.

Authorities say the money was transferred out of the country. An investigation is underway.