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Employee embezzlement through IU Foundation leads to IUPD investigation

IU Police Department received reports Tuesday of embezzlement at the IU Foundation. 

IUPD Capt. Craig Munroe said the IU Foundation was going through audits and noticed inconsistencies with the funds Aug. 21. After reporting the inconsistencies to the police, an employee of the foundation called IUPD and confessed to embezzlement. 

According to an email attributed to Dan Smith, president and CEO of the IU Foundation, the employee was immediately dismissed. 

The IU Foundation has a forensic auditor looking into the extent of the theft, according to the email. 

Munroe said the employee has not been arrested. IUPD could not offer more information at this time.

This investigation is still active.

It is not believed any donor gifts were compromised.

This story has been updated.

Editor's Note: The Indiana Daily Student has an account in the IU Foundation used for newsroom fundraising called the Legacy Fund

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