NCCU audit shows suspected embezzlement
North Carolina Central University's chancellor has turned over findings of an internal audit that shows evidence of possible embezzlement to state, he said in a news release Thursday.Posted — Updated
The university's investigation found evidence to suggest that federal, state and private funding allocated to the university's Historically Minority Colleges and Universities Consortium were embezzled into the personal bank account of the program's former executive director.
NCCU serves as the fiscal agent for the state-mandated consortium of historically minority-serving universities. In the past decade, the foundation has received more than $13 million.
Nelms did not specify how much money may be in question.
"I am determined to see this complicated network of accounts and transactions untangled," he said in Thursday's statement. "I believe my referral to these better-resourced state agencies will ensure that full discovery and prosecution, if warranted, takes place."