Ex-N.C. College Foundation Staffer Accused of $400,000 Theft
June 2, 2014 | Read Time: 1 minute
A former bookkeeper for the North Carolina A&T University Foundation was arrested Thursday on suspicion of embezzling some $400,000 from the organization, the News & Record of Greensboro, N.C., reports.
Shirlye Cornelia Grandy, 50, was fired in March after nine years as the $59.3-million foundation’s accounting director. The independent nonprofit supports scholarships, academic programs, and other university endeavors.
Shirley Frye, the foundation’s interim president, said an employee noticed discrepancies in its accounts in December, prompting an internal investigation and a review by an outside law firm. Ms. Frye said investigators found that since January 2011 about $400,000 in foundation funds had been transferred to a personal account.
