News : STATE AUDITOR HOLDS NEWS CONFERENCE TO DISCUSS REPORT ON A SPECIAL INVESTIGATION

State Auditor Rob Sand hEld a news conference today to discuss a report on a special investigation of the University of Iowa, Department of Physics and Astronomy Machine Shop. The report identifies more than $943,000 diverted into a personal bank account that should have been deposited into the University's account.

The special investigation was requested by University officials because a member of the Department, Brian Busch, failed to disclose his ownership of D3Signtech (D3T) in compliance with the University's Conflicts of Interest and Commitment policy. University officials were also made aware of the possibility Mr. Busch may have used University assets and staff to divert revenue from the University to his personal business. As a result, the University placed Mr. Busch on paid administrative leave effective September 17, 2021. Mr. Busch was the Department's Machine Shop Manager at the time he was placed on administrative leave.

Sand reported the special investigation identified $943,634.97 was deposited into Mr. Busch's personal bank accounts or to a Stripe account held by Mr. Busch. The $943,634.97 was received from Xometry for jobs Mr. Busch's company, D3T, completed using University staff and equipment. Because University staff and equipment was used, the $934,634.97 received from Xometry should have been deposited to the University's bank account.

In addition, Sand reported the procedures identified $6,313.39 of improper personal purchases Mr. Busch made with his University issued procurement card (Pcard). The procedures also identified $136.38 of unsupported disbursements related to shipping charges made on University accounts.

A copy of the report can be seen by clicking HERE.