Investigation into fraud scheme at Montgomery College continues

Investigation into fraud scheme at Montgomery College continues

Officials say new information could be revealed in the fall

| Published:
Montgomery College

New details about a fraud scheme that caused “financial loss” at Montgomery College last year could be made public in the fall.

In September, the college announced it had fallen victim to a fraud scheme, but neither school officials nor federal investigators disclosed what happened or how much money was lost.

Officials have been tight-lipped since, citing the ongoing investigation. In an email last week, Montgomery College spokesman Marcus Rosano wrote that the investigation has not been completed and declined to disclose how much money the college lost.

In his email, Rosano wrote that Montgomery College undergoes an annual audit and more information about the fraud scheme will likely be revealed in the report, which is usually released in October.

“[T]he College, as a standard practice, undergoes an independent audit of all of its financial statements for the fiscal year. Thus, the audited financial statements for the fiscal year ending 2019 will be presented to the College’s audit committee and to the Board of Trustees, in a public session,” Rosano wrote. “Note that in past years, this has been presented in October, but with COVID-19, this year may be slightly delayed.”

He did not say when school officials expect the criminal investigation to be completed.

Officials at the Baltimore field office of the Federal Bureau of Investigation, which is looking into the fraud, declined to comment last week.

The college issued a press release in September that said: “The crime resulted in a financial loss to the College and steps are being taken to recover the full amount. The College will assist with all investigations of this matter. While these inquiries proceed, law enforcement has requested that the College refrain from releasing further information about them.”

Caitlynn Peetz can be reached at caitlynn.peetz@bethesdamagazine.com

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