Auditor calls for asset freeze in Coventry
copyright the Chronicle October 5, 2016
by Elizabeth Trail
COVENTRY — The accounting firm involved in trying to untangle Coventry’s financial records is recommending that the town freeze the movements of all of its assets as soon as possible.
The select board agreed at its meeting Monday to send letters to Community National Bank and to three firms involved in the town’s investments stopping any transfers, sales, or withdrawals without the written consent of the select board.
“Jeff Graham sees an opportunity for assets to move without our knowledge,” selectman Scott Morley said. “And he sees the potential for that to happen.”
Mr. Graham is the president of the accounting firm Graham & Graham, the auditors hired to look into Coventry’s finances. He’s a certified public account (CPA) who is certified in financial forensics, the accounting specialty devoted to investigating fraud.
He’s been trying to untangle Coventry’s books and has said he suspects he will find missing money.
…To read the rest of this article, and all the Chronicle‘s stories, subscribe:
Annual online subscription
Short-term online subscription
(To find a particular article, search for the corresponding edition of the newspaper)