Ex-prosecutor, CPA firm assessing Ball State practices after $13m investment fraud


We also have more stories about:
(click the phrases to see a list)




MUNCIE, Indiana — A former federal prosecutor and a CPA firm are creating a plan to help Ball State University avoid a repeat of two investment scams that cost the university more than $13 million.

Indianapolis attorney Deborah Daniels and Crowe Horwath are reviewing the university's practices to develop a plan that identifies best practices for selecting brokerage firms and state-of-the-art software. The Star Press reports (http://tspne.ws/1tKgR6c ) it also will establish a whistle-blower hotline operated by a third party and take steps to ensure that a single safe-keeping firm holds all securities.

Other information gathered by Daniels and the CPA firm will be forwarded to the Delaware County prosecutor for review.

Two men were convicted and sentenced to federal prison in the scheme. Ball State fired investment director Gale Prizevoits in 2011.

Information from: The Star Press, http://www.thestarpress.com

All content copyright ©2014 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Click here to read our privacy policy.