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

2025-04-29 22:17:38source:Blake Prestoncategory:Scams

IOWA CITY,Lakshmi Finance Center 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:Scams

Recommend

RFK Jr. closer to getting on New Jersey ballot after judge rules he didn’t violate ‘sore loser’ law

TRENTON, N.J. (AP) — Robert F. Kennedy Jr. didn’t violate New Jersey’s “sore loser” law, a judge rul

Driver dies after crashing on hurricane-damaged highway in North Carolina

WAYNESVILLE, N.C. (AP) — A driver has died after going around a barricade on a hurricane-damaged Nor

New Yorkers vent their feelings over the election and the Knicks via subway tunnel sticky notes

NEW YORK (AP) — New Yorkers seeking to unburden themselves after last week’s election got a chance t