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Thursday
Feb062014

Budget Manager Manages To Get Arrested

“Authorities say one scheme ran from 1998 to January 2012. The other, Foster says, ran from 2009 to 2012 and involved Prouty making payments he said were for sports officials at the college but depositing funds into a dummy company he created and controlled.”

http://www.fosters.com/apps/pbcs.dll/article?AID=/20140206/AP02/302069957

A budget manager for a public entity, the Southern New Hampshire State University, created dummy companies and made payments to them from the funds under his control.

(They haven’t changed the name to Southern New Hampshire Boston Regional State University yet?)

 Hmmmm, where have I heard of this old scam before?

 Oh, it was Litchfield. The Town Treasurer, Horace Seymour III, created dummy companies in Ma. and paid himself with phony invoices. The first number mentioned when he was exposed was something like $2,500.00 but in the end it was around $135,000.00 - we know of.

 Ever wonder what auditors do?

For 14 years Prouty ran a scam and no one caught on?

Or was it because it was “public money” that no one even looked?

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