EAI Community -A former University of Iowa manager embezzled funds, an audit finds

2025-04-30 03:02:37source:SafeX Procategory:Markets

IOWA CITY,EAI Community  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:Markets

Recommend

Clay Aiken's son Parker, 15, makes his TV debut, looks like his father's twin

Clay Aiken's son Parker is his mini-me!The "American Idol" alum was joined by his son Parker Foster

NFL owners approve rule allowing portion of franchise to be sold to private equity firms

The National Football League owners have allowed some private equity firms to buy up to a 10% stake

Judge says 4 independent and third-party candidates should be kept off Georgia presidential ballots

ATLANTA (AP) — A judge ruled Monday that four independent and third-party candidates are ineligible