Probe Finds No Laws Broken In UA Fundraising Deficit
A prosecutor's report developed at the request of a state legislator concludes that the top financial official at the University of Arkansas engaged in no wrongdoing in dealing with a $4 million deficit in the school's fundraising division.
Deputy Prosecutor David Bercaw issued a letter to the House of Representatives on Tuesday that says Vice Chancellor Don Pederson didn't misrepresent any facts in addressing the Office of Legislative Audit.
Republican Rep. Nate Bell asked that a prosecutor review Pederson's role in the matter.
Bercaw says there was no fraud or misappropriation of funds and that Pederson made no false representations.
The university says the deficit has been eliminated and that it has made changes in managing its finances. In January, UA trustees signed off on the changes.
The six page letter released by Bercaw can be read here.