newsobserver.com blogs

Under the Dome

USDA loan programs that LaRoque used criticized in report

An internal review by the federal agency that provided former state Rep. Stephen LaRoque with the money that led to his indictment criticizes the North Carolina operation on several fronts.

The U.S. Department of Agriculture's Rural Development division, in a report delivered to the Raleigh office in April and obtained by The News & Observer this week, faults the state office for inadequate oversight and for loan delinquencies. The state has reported $34.6 million in lost federally guaranteed loans and poor internal control over one loan program "has raised concerns in the national office," the report says.

But the report, which gives passing marks to some of the agency's practices, raises issues that for years have dogged some of the loan programs and are not limited to North Carolina.

The review is posted below.



Document(s):
NC FY 2011 BCPAR.pdf


Comments

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Lost or stolen?

Is that $34 million lost or stolen money? That money went to someone! It never ceases to amaze me how white collar crime is so downplayed. Even the reporting language can be different. In white collar crime, the report ususally is that they embezzeled the money. For the lower SES, the reporting is always that they stole the money.

And saying that these issues are not limited to North Carolina just lets you know that taxpayers get ripped off at an alarming rate by their so-called representatives..

".........faults the state office for inadequate oversight .....

Like this is something new for this state!  How many other programs have been revealed that had "inadequate oversight?"  And how many more to come?  I had been wondering how this went on for so long.

Cars View All
Find a Car
Go
Jobs View All
Find a Job
Go
Homes View All
Find a Home
Go

Want to post a comment?

In order to join the conversation, you must be a member of dome.newsobserver.com. Click here to register or to log in.
Advertisements