BATON ROUGE, LA (WAFB) - CORRECTION: This report initially stated that the suspect was the vice president of Campus Federal in Baton Rouge. However, that information was not correct.
Authorities with the Baton Rouge Police Department said a project manager of a $20 million renovation project was arrested Thursday for allegedly wiring more than $500,000 from a local bank, along with others in the United States.
Police have Steven Reich, 59, of Zachary, in custody. They said Reich turned himself in to Baton Rouge police detectives and was arrested on two counts of wire fraud and one count of bank fraud.
Reich is accused of wiring roughly $583,000, so far, from at least one local bank and two banks located in the US between July 2016 and September 2016.
Campus Federal was initially notified by the Secret Service about suspicious activity on the accounts of a $20 million project in New Orleans, which started the investigation. According to Sgt. L'Jean Mckneely, Reich was a project manager on that project, which is based on Canal Street.
Authorities said Reich was wiring money to his personal account and possibly to areas overseas.
The investigation is ongoing, with authorities saying there could be more money associated with this case.
This case was brought to the Baton Rouge Financial Crimes Division by the US Secret Service, after being alerted by a local bank. This case is being reviewed by the United States Secret Service - Louisiana, Seattle and Washington Office, US Postal Inspection Service in Seattle, Washington, Dallas and Texas.