Western Surety Co. v. Loy

Abbott, J.:

This is a subrogation action by the plaintiff, Western Surety Company, for recovery of money paid under an official county treasurer’s bond.

The defendant, Mike Loy, a certified public accountant, was employed by Crawford County during the years 1969 through 1973 to audit certain county offices, including the office of the then-County Treasurer, Gene E. Masterson. During the same period, Western provided statutory surety bonds for the Crawford County Treasurer, Gene E. Masterson. Masterson misappropriated $5,626.11 in calendar year 1969, $25,714.63 in 1970, $15,640.92 in 1971,…