New Castle County Auditor Robert Wasserbach denounced – what he called – a “cowardly” effort to diminish his probe into the county’s second in command David Grimaldi.
The investigation is looking into switching of $92 million to money manager UBS without going through the bidding process.
Wasserbach says that his report will look at whether the county’s finance managers actually abided by county policy when investing the county surplus.
The Wilmington News Journal reports the audit will also investigate the switch made in 2012 to UBS following County Executive Tom Gordon taking office.
Grimaldi has said that previous money managers had put the county fund at risk.
