OKLAHOMA CITY (AP) -- The head of an Oklahoma agency that manages $2.5 billion in pension funds for municipal police officers has been fired after allegations of embezzlement.
The board for the Oklahoma Police Pension and Retirement System voted 10-1 on Monday to terminate Director Steven Snyder. Board members have appointed Sean Ruark as interim executive director until they find a permanent replacement.
Snyder's termination comes after the attorney general's office announced last week an investigation that stems from an anonymous tip about his travel. Investigators said in a search warrant that Snyder "engaged in excessive travel for personal business and being reimbursed with state funds."
The board says it's conducting an internal audit of financial records and operating procedures.
Records show Snyder has been executive director of the system for nine years.
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