Former Iowa manager embezzles nearly $1 million from university

A recent state audit revealed that Brian Busch, the former manager of the machine shop at the University of Iowa's Department of Physics and Astronomy, embezzled nearly $1 million by diverting funds into his personal accounts. The audit, conducted by State Auditor Rob Sand, uncovered that Busch had not disclosed his ownership of a company named D3Signtech. Between July 2017 and September 2021, he received $943,635 from another company for work performed by D3Signtech, utilizing university staff and resources. The university took immediate action upon discovering potential financial misconduct, placing Busch on administrative leave in September 2021 and initiating the state audit to investigate the matter further. This proactive response aimed to safeguard the interests of taxpayers, students, and families associated with the university. Attempts to contact Busch have been unsuccessful, as his phone listing has been disconnected and emails sent to him have bounced back. The situation raises concerns about accountability and the potential for criminal charges against Busch, although it remains unclear if any legal action will be pursued at this time. The incident highlights the importance of transparency and oversight in university financial operations, particularly in departments handling significant funds. The university's swift response underscores its commitment to addressing financial irregularities and protecting its community from potential fraud.