Madison
66° F
Overcast
Overcast
Advertisement

WEDC: No misconduct from org in untracked-money investigation

Published On: Nov 30 2012 04:45:27 PM CST
Updated On: Dec 01 2012 01:03:10 PM CST
MADISON, Wis. -

 Serious but fixable problems have been uncovered in Wisconsin's 17-month-old quasi-public economic development agency, which lost track last year of $56 million in loans to businesses.

Leaders of the Wisconsin Economic Development Corp. told board members the initial findings that the organization made "some missteps" in a memo released Friday.

The memo is a status update on the agency's efforts to address problems that led to losing track of the loans.

While no evidence of any misconduct has been uncovered, interim WEDC Secretary Reed Hall and Deputy Secretary Ryan Murray said in the memo that they found isolated problems related to internal documentation and reporting processes.

Murray said there were a number of what he called "disjointed" efforts to address the tracking of the loans, but the issue wasn't pushed.

Advertisement
  • iOS 8

    From Apple

    Best new Apple iOS 8 features

    Apple's iOS 8 is here, and it's packed with slick new features. Take a look at some of the best changes to the latest version of the popular mobile operating system.

  • Testing for Ebola

    REUTERS/Misha Hussain

    Common myths about Ebola

    At least eight Ebola aid workers and journalists were reportedly murdered in a remote village in Guinea in a brutal example of growing distrust locals have of foreigners coming to help stem the mushrooming health crisis. Take a look at common myths about the deadly virus.

  • Police lights file 2

    Ridiculous 911 calls

    Have you ever considered calling 911 because of a massive spider in your house? How about because a McDonald's employee got your order wrong? Take a look at some of the strangest reasons people have recently called 911.

  • C3K-EVENTS

    Events calendar

    Looking for something to do? Visit Channel 3000's events section featuring dining, food, music and family-friendly events throughout Madison and the surrounding area.

  • Get your weather app

    Channel3000.com and WISC-TV3 deliver local forecasts, live radar, school closings and alerts for Madison and South Central Wisconsin to iOS or Android devices.

  • Learn more about WISC-TV

    Meet the News 3 staff, learn about our newscasts, search our job postings and find out how to contact us.

Advertisement