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Ex-CFO Sentenced

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Ex-CFO sentenced


The Ellis County Press

WASHINGTON, D.C. – Eugene Smith, Lancaster Independent School District’s former chief financial officer who was recently indicted by federal authorities, was sentenced May 7 and will serve six months in prison, followed by four months of house arrest.

Smith, who won an award from the Texas Education Agency for financial accountability when he was at the LISD from 2005 to 2006, was accused of laundering $46,742 during a stint at a Washington, D.C.’s charter school.

A bank employee discovered a discrepancy when Smith was alleged to have transferred the funds to another bank. Federal authorities were then notified, according to a Washington Post’s story last month.

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