NeighborWorks/Project Renew

Kathleen Quilligan of the News-Sentinel reports on the misdirection of nearly $630,000. An audit discovered the misdirected funds. Several staff members were dismissed. However, board members were not found to have failed to protect the interest of NeighborWorks investors. The internal investigation covers a period going all the way back to 2001. The board members had a fiduciary duty of oversight and may have cost the agency over $630,000. There is liability imposed when this duty is not carried out by the board members. Futhermore, action of wrongdoing should be reported to the proper officials, in that way the whole story comes out rather than those who are held up as the scapegoats. The story does not list the names of banks, partners, or the homebuyers who were involved. Sounds like another one for Attorney General Steven Carter, Fort Wayne has him hopping.