CHICAGO -- A county investment fund in Ohio is being scrutinized by the state auditor to make sure some of its investments are legal.

John Conley, spokesman for Ohio auditor Thomas Ferguson, said a soon-to-be-released audit of Cuyahoga County will include a review of its Secured Assets Fund Earnings Fund, which has sustained $97 million in losses since the beginning of the year. Conley said that while there is concern about the fund's losses, the auditor is particularly concerned about how the fund is investing money for other local governments.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.