Fraud examiner talks Rio Nuevo auditPosted: Updated:
The Rio Nuevo board heard from angry taxpayers over the $230 million mismanaged by the district.
Representatives from Crowe Horwath, the company that conducted the 83-page Rio Nuevo audit were there.
Taxpayers say the audit was not in-depth enough.
One local certified fraud examiner says they couldn't have found criminal activity if they weren't looking for it in the first place.
It doesn't appear that they were asked to look into how the money was spent," said Christopher Linscott from Keegan, Linscott & Kenon, PC. "Was it spent improperly? Was there fraud in the awarding of contracts or fraud in terms of embezzlement of funds? It doesn't look like they were engaged to do do that. There'd a be a whole new process to do relative to that."
That process would be a forensic audit. Crowe Horwath says that would cost $1 million.