Terry Gaouette, the former CFO of the Milwaukee Public Museum who colluded with the former CEO Michael Stafford to spend all the endowment money and then create and distribute false financial reports to cover their crimes, was sentenced last week.
He pleaded guilty to a misdemeanor of falsifying a financial report. He has to pay a fine of $500 and give up his CPA license for two years. That’s it. Seriously. He was originally charged with four felonies, but those went away. Continue reading
Today, two new charges were filed against the former CFO of the Milwaukee Public Museum. Terry Gaouette was originally charged with four felonies, including one count of theft by officer and three counts of fraudulent writings. The new misdemeanor charges relate to making false or fraudulent reports as a certified public accountant.
The criminal charges came as a result of museum executives improperly spending the organization’s endowment funds, and then covering up that spending by making false reports to the museum’s Board of Directors. Continue reading
As reported yesterday, the former CFO of the Milwaukee Public Museum has been charged with four criminal counts against him for his part in the raiding of the organization’s endowment fund.
Here is a summary of the criminal complaint against Terry Gaouette:
Count 1 – Theft By Officer – From March 1, 2004 and February 28, 2005, transferred money out of the endowment fund without the owner’s consent. Continue reading
Note sent to those who submitted proposals:
This is to inform you that at its meeting today, the Milwaukee County Board of Supervisors did not approve, by the required two-thirds majority vote, funding from the Contingency Fund for a forensic audit of the Milwaukee Public Museum, Inc.
The audit committee of the Milwaukee County Board is considering hiring an outside forensic accounting firm to perform a forensic audit on the finances of the Milwaukee Public Museum. This project would cost between $50,000 and $100,000. The project is being proposed by Supervisor James White.
The board of MPM was told by county auditors that investigators found no evidence of fraud or misappropriation of funds. The museum board once considered a forensic audit, but instead allowed county auditors to examine the books. Continue reading