RAEDC employee suspected of financial misconduct
ROCKFORD — A Rockford Area Economic Development Council (RAEDC) employee suspected of financial misconduct has been placed on unpaid administrative leave.
According to RAEDC President and CEO Nathan Bryant, the alleged misconduct was discovered Wednesday, April 25.
“We are disheartened and disturbed by this discovery and are committed to doing everything in our power to maintain the trust and respect of our public and private investors, partners and community,” Bryant said.
The type of misconduct involved in the investigation or the name of the employee has not been released.
The RAEDC operates on federal, state and local funds, including $150,000 per year from the City of Rockford.
The Rock River Times will have more on this story as it develops. R.