Audit of UofL finds faculty embezzling

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by Timothy O'Rourke

WHAS11.com

Posted on July 2, 2014 at 4:30 PM

LOUISVILLE, Ky. (WHAS11) – An audit of the University of Louisville’s finances was released today and it claims many UofL employees were embezzling money from the school.

Since 2008, a nearly $8 million has been stolen by several employees from different departments. 

The most recent case involved Perry "Chad' Vaughn, former Director of UofL’s Department of Family and Geriatric Medicine. Vaughn was indicted just three months ago for allegedly stealing almost three million dollars. This prompted University of Louisville President James Ramsey to call for an independent audit of the school's financial procedures,

The report includes 17 recommendations for the University to fix holes in their financial procedures. The first recommendation being to improve financial oversight by appointing a Chief Financial Officer.

 

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