Blockchains Finance|A former University of Iowa manager embezzled funds, an audit finds

2025-05-07 14:20:08source:HyperBit Exchangecategory:My

IOWA CITY,Blockchains Finance Iowa (AP) — The former manager of the machine shop at the University of Iowa’s Department of Physics and Astronomy deposited nearly $1 million that should have gone to the university into his own personal accounts, according to a state audit released Wednesday.

The report from State Auditor Rob Sand said Brian Busch failed to tell the university that he was an owner of a company called D3Signtech. The report said that from July 2017 through September 2021, Busch received $943,635 from another company for work that D3Signtech completed using University of Iowa staff and equipment.

The university placed Busch on administrative leave in September 2021 and requested the state audit.

“When university officials learned of a potential violation in the Department of Physics and Astronomy Machine Shop, they took immediate action to protect the interests of taxpayers, students, and families,” the university said in a statement.

A phone listing for Busch was disconnected, and an email sent to him on Wednesday was returned to the sender.

It wasn’t immediately clear if Busch could face criminal charges.

More:My

Recommend

Ukraine denies Putin claim that Russian forces regained Kursk

The General Staff of the Ukrainian Armed Forces denied Russian President Vladimir Putin's claim Satu

A mom owed nearly $102,000 for her son's stay in a state mental health hospital

Bridget Narsh's son, Mason, needed urgent help in January 2020, so she was offered the chance to sen

Save 46% on the TikTok-Loved Solawave Skincare Wand That Works in 5 Minutes During Amazon Prime Day 2023

We independently selected these deals and products because we love them, and we think you might like