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Oklahoma State University faces financial scandal after misuse of $11.5M in state funds.
Oklahoma State University faced financial issues after an internal audit revealed the misuse of state funds.
The audit found that the Innovation Foundation had written a $500,000 check to Cowboy Technologies, LLC, a subsidiary, to pay consultant and lobbyist invoices, violating state law.
This led to an investigation and the resignation of former president Kayse Shrum.
The audit recommended returning any state funds transferred to Cowboy Technologies, and OSU agreed to ensure compliance.
The Innovation Foundation is expected to reimburse the university at least $11.5 million for unallowed expenses.
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La Universidad Estatal de Oklahoma enfrenta un escándalo financiero después del uso indebido de $11.5 millones en fondos estatales.