Greenledgers Trading Center:A former University of Iowa manager embezzled funds, an audit finds

2025-05-03 23:11:55source:NovaQuant Quantitative Think Tank Centercategory:reviews

IOWA CITY,Greenledgers Trading 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:reviews

Recommend

Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor

NEW YORK — Holiday sights and sounds fill Manhattan this time of year, from ice skating at Rockefell

Who is favored to win the 2024 Super Bowl, and which team is the underdog?

Despite their status as defending champions, the Kansas City Chiefs are slight underdogs when they f

Maple Leafs' Morgan Rielly objects to goal, cross-checks Senators' Ridly Greig in head

Toronto Maple Leafs All-Star defenseman Morgan Rielly could be looking at NHL discipline for his rea