Hear through the grapevine that the alleged Equine Trust Fund scandal at the University of Louisville involves more than $100,000. Here’s what we originally published on March 25:
I hear that there’s a problem with the Equine Trust Fund grant currently administered by the UofL School of Business.
Allegedly, some fraud has been wrought resulting in an investigation and termination of a Program Coordinator. Sources at UofL allege off-the-record that as much as $100,000 has been mismanaged and suggest an internal investigation is taking place right now.
No one wants to talk.
We also hear that the bigger story is quite possibly the failure of the system to detect the alleged embezzlement. The scheme was apparently caught due to a fluke and not because UofL’s financial checks function properly.
Times are quite interesting and the University seems to be circling its wagons. I mean, if the nasty emails and calls we’re receiving are any indication.