March 22, 2012 1:56:26 pm
Novant Health Embezzlement Case Highlights Need for Risk Oversight
A former risk management executive for Novant Health Inc. pled guilty to the embezzlement of nearly $620,000 over a 7-year period. Novant Health is parent company of Forsyth Medical Center in Winston-Salem.
The executive, Carol Crawley Maultsby, oversaw risk management for 11 years. According to Winston-Salem police, Maultsby set up a dummy corporation in 2003, called Excel Strategic Solutions. Over the next 7 years, she issued 50 checks for between $12,000 and $13,000 each, to the dummy company, sending the checks to a Greensboro post office box. Maultsby then picked up the checks and cashed them at SunTrust Bank where she had opened an account for the company.
An anonymous Novant employee contacted hospital administration in 2010 to report the embezzlement. Novant officials hired an independent audit firm to investigate and contacted Winston-Salem police.
Maultsby was having financial difficulties due to a divorce and expenses relating to nursing home care for her mother.
For a detailed report of the case, please see the Winston-Salem Journal.
Tags: Internal Audit, Fraud, Risk, Healthcare
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