Local News

Judge Reduces Bond For Suspect In Wake School System Fraud Case

Posted October 11, 2005 12:05 p.m. EDT
Updated November 18, 2006 3:25 p.m. EST

— A judge has reduced the bond of a suspected key player in a multimillion-dollar fraud scheme involving the Wake County Public School System's transportation department.

Carol Finch, who worked in the transportation department as a budget analyst, was arrested in July and charged with diverting more than $1 million from the school system.

Finch was placed in jail on a $1 million bond, but a judge recently reduced it to $100,000 secured because she had been cooperating with investigators.

Last month, Finch and four other suspects were indicted on charges of obtaining property by false pretenses.

Investigators believe former employees in the school system's transportation department and an automotive parts company, Barnes Motor & Parts, conspired to divert millions of dollars through orders for fake parts.