The Screen Actors Guild is investigating the possible theft of up to $250,000 in unclaimed residual payments.
A routine internal review turned up a problem in the Guild’s Residual Estates and Trust Department. A source tells KPCC that SAG has fired a manager in that department for possible misappropriation of funds and another employee for failing to follow the Guild’s financial oversight procedures.
The department monitors residuals paid to the estates of deceased SAG members and residuals allocated to members the Guild can no longer find. A source tells KPCC that forensic accountants from a Big Four accounting firm are helping to investigate the matter, and a statement from SAG’s says that once the investigation is complete, the Guild will work with local and federal law enforcement agencies on what to do next.
The statement also assures Guild members that their money is not at risk. It says that the Guild has insurance to protect its residual funds in cases like this.