Indiana’s office of Secretary of State will conduct an investigation into Ball State’s $13.1 million fraud case from 2011.
“We are planning on looking into the matter," Valerie Kroeger, director of communications for Indiana's Secretary of State, said. "We can’t release any details because in criminal cases, you risk suspects getting rid of evidence.”
Joan Todd, executive director of public relations, said the university cannot comment on the ongoing investigation.
"Ball State has effectively addressed the case on campus," Todd said. "As President Ferguson suggested Wednesday in response to a state representative’s question, and as we have said numerous times before, we continue to support and cooperate with authorities in their investigation."
The 2011 case occurred after Gale Prizevoits, director of cash and investments at the time, signed contracts with investors without the university's knowledge. The investors took the money and lost it or spent it on personal luxuries. Ball State has been able to recover $542,295 of the lost funds, leaving $12.623 million of the university's money missing.
Prizevoits altered university records to hide the losses from audits. She was let go on Oct. 24, 2011.
News of the fraud became public in the summer of 2014 and has since then been the subject of investigation by the university and scrutiny of the state. External consulting firms have been brought in to assist in the investigation and developing new protections from future frauds.
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