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L.A. Coliseum audit finds 'fraudulent activity,' 'misuse of funds'

April 12, 2012 | 10:15 am

Wendy Greuel in 2009

Los Angeles City Controller Wendy Greuel has scheduled a news conference Thursday morning to release the results of a financial audit of the beleaguered Los Angeles Memorial Coliseum Commission.

"The audit reveals lax or nonexistent internal controls which contributed to millions of dollars in wasteful spending, fraudulent activity and misuse of funds," Greuel's office said in a prepared statement.

FULL COVERAGE: Coliseum under scrutiny

Greuel announced she would conduct the audit in September. She initially moved to examine the Coliseum's books last July, after learning that the stadium's interim general manager had granted a 17% raise to his finance director in the midst of the scandal. The controller shelved the audit at the request of Los Angeles County Dist. Atty. Steve Cooley's office, which was conducting a criminal investigation. The two offices then found a way to cooperate in their inquiries.

Since early last year, The Times has reported on rampant financial irregularities at the Coliseum, which is home to USC football. Six people have been charged in a 29-count indictment as a result of Cooley's probe.

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-- Paul Pringle, Andrew Blankstein and Rong-Gong Lin II

Photo: Wendy Greuel in 2009. Credit: Allen J. Schaben / Los Angeles Times

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