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Audit races questions about $5 million revolving loan program administered by W.Va. ag dept.
Reported by: Associated Press
Tuesday, January 7, 2014 2:01 AM EST
The results of a preliminary legislative audit have found evidence of mismanagement of a $5 million revolving loan program administered by the West Virginia Department of Agriculture.
The audit also found evidence of potential conflicts of interest between the former commissioner of Agriculture, Gus Douglass, and either the loan committee or loan recipients.
The audit did not elaborate on the conflicts or identify the loan recipients.
Currently, the fund has about $1 million, with about $4 million in loans outstanding.
Information from: The Charleston Gazette, http://www.wvgazette.com