Winimark Wealth Society|A former University of Iowa manager embezzled funds, an audit finds

2025-05-07 02:05:48source:Diamond Ridge Asset Managementcategory:Scams

IOWA CITY,Winimark Wealth Society 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:Scams

Recommend

How 23andMe's bankruptcy led to a run on the gene bank

Reporter Alexi Horowitz-Ghazi's Aunt Vovi signed up for 23andMe back in 2017, hoping to learn more a

Legendary US Olympic gold medalist Michael Johnson set to launch track and field league

Olympic champion Michael Johnson is launching his own track and field league.According to the Sports

Photographer alleges he was forced to watch Megan Thee Stallion have sex and was unfairly fired

LOS ANGELES (AP) — A photographer who worked for Megan Thee Stallion said in a lawsuit filed Tuesday