Monday, June 17, 2019

Audit finds veterans accounts had "breach of the home's fiduciary" responsibilities

Audit finds funds missing from veterans' bank accounts at Grand Rapids home

Detroit Free Press
Paul Egan
June 14, 2019

LANSING – An audit at the Grand Rapids Home for Veterans found discrepancies totaling hundreds of thousands of dollars involving the bank accounts of residents, prompting a separate forensic analysis.
The Michigan Veterans Affairs Agency, which manages the home, transferred $304,250 into the bank accounts of home residents to make them whole, spokeswoman Suzanne Thelen told the Free Press on Thursday.

It's not clear from the audit whether any resident funds were improperly taken, but "the matter represents a breach of the home's fiduciary responsibilities to appropriately segregate and safeguard the personal funds attributed to it by its members," the report said.
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