NC A&T foundation employee charged with embezzling $400K

Shirlye Cornelia Grandy

Shirlye Cornelia Grandy

GREENSBORO, N.C. — An employee of the N.C. A&T University Foundation has been charged with embezzling $400,000 from the organization over three years.

The foundation confirmed Shirlye Cornelia Grandy, 50, its former director of accounting, was charged Thursday with embezzlement, obtaining property by false pretenses, corporate malfeasance and computer fraud.

The instances appear isolated only to Grandy, according to the foundation’s interim director Shirley Frye.

“The Foundation is an independent entity that supports N.C. A&T University in a variety of ways, and this crime will in no way compromise any of the Foundation’s financial commitments to students, faculty and programs we support at the university,” Frye said in a statement.

Grandy was released on a written promise to appear in court, Greensboro Police told the News & Record.

The university issued a statement on Thursday in response to the criminal investigation:

“News of the recent arrest and criminal investigation of a N.C. A&T Foundation employee has left the university community stunned.

I am deeply disturbed about the facts surrounding the criminal investigation,” said Chancellor Harold L. Martin Sr. “We are invested in the success of the university’s associated entities and ensuring that this never happens again. Moving forward, our commitment to restoring trust within the university community—and among supporters, constituents and the public—is a priority.

In December 2013, Foundation staff alerted the university of accounting discrepancies and a subsequent investigation was launched. The Foundation operates as an independent 501(c) (3) associated entity of the university established to foster and promote the growth, progress and general welfare of the university.”

The full statement from Shirley Frye, Interim President, Foundation Board of Directors:

“In December, the Foundation discovered accounting discrepancies and immediately launched an investigation with help from outside counsel. We found that Ms. Grandy had misappropriated funds from an operating account to her personal account. As a result, we terminated Ms. Grandy, contacted the Greensboro police and hired a Big Four accounting firm to help us determine exactly what happened.

Investigators have determined that about $400,000 was stolen from the Foundation since 2011, and that the theft appears isolated to one employee who used her position of trust for her own personal gain. Moving forward, the Foundation will take whatever action necessary to recover the funds and ensure something like this doesn’t happen again.

The Foundation is an independent entity that supports N.C. A&T University in a variety of ways, and this crime will in no way compromise any of the Foundation’s financial commitments to students, faculty and programs we support at the university.”

18 comments

  • Donnie

    Looky, it is free money, if you never pay any taxes. Some people just make me sick. Take and take and then just steal the rest.

  • J

    Can someone explain to me how this woman got this much money in 3 years and nobody noticed until now!?!?!! That is ALOT of money in such a short amount of time. Good luck getting the money back.

  • Mark Stabler

    The fact that a person can steal $400,000.00 and be released from jail with no bond makes no sense to me. This is not an isolated case, it seems to be the norm with people that embezzle money. To me, this crime is worse than someone that walks into a bank without a firearm and hands a teller a note to get money. This woman was in a position of trust stealing money that was suppose to further the lives of students that really needed help. Will it be made up, very doubtful. A poor accounting system that lets this kind of money disappear in three years.

  • Mike J Baron

    She is FREE to go without any bond. The writing is on the wall! I doubt she will even go to prison ….because she is a FEMALE, and she is a MINORITY.

    • Yeppy Jones

      A person not going to jail because of being a female minority. LOL! You must have been on Mars to not know what the demographic make up of most prisons are.

  • Not A R_dneck

    Maybe if she was a white male, the comments would be more focused on the crime; instead of the participants.

  • Concerned

    God bless the ignorant and silence the discord. Grant us mercy, wisdom and love despite race, creed or political affiliation. Regardless of the decisions made by society, You are the ultimate judge in this an all things. Bless the school and it’s constituents.

Comments are closed.

Follow

Get every new post delivered to your Inbox.

Join 32,696 other followers