Berkeley Co. School District reaches settlement with auditing firm involving embezzlement case
BERKELEY COUNTY, S.C. (WCSC) - A settlement has been reached between the Berkeley County School District and an auditing firm in a case involving the embezzlement of funds from the district.
Attorneys for the district said they and Greene Finney LLP reached a private settlement and the case has been dismissed. In 2018, the district filed a lawsuit against the firm claiming that they missed former CFO Brantley Thomas’ significant embezzlement of funds from the district.
The case dismissed was one of three lawsuits against the firm; the remaining two are ongoing.
The district claimed in the suit that Greene Finney LLP had access to its financial statements for 17 years from 1999 to 2016 and had a personal relationship with Thomas that included expensive meals, gifts and “other acts not appropriate between an auditor and a governmental client.”
When Thomas was indicted and the auditing firm was fired, the lawsuit claims only the 10 embezzled checks amounting to $382,252.00 were known to the public.
The district claims the firm was negligent and had a duty to provide the district if anything suspicious came up in reports. They’re also claimed breach of contract and claimed the firm conspired with Thomas. They were seeking damages in excess of $10 million or more.
Copyright 2021 WCSC. All rights reserved.